Stocks ended sharply higher, racking up their largest daily advance in over a year, on Monday as an agreement on a $1 trillion emergency rescue package from the EU quelled fears that a new credit crisis would derail European economies.

Based on the latest available data, the Dow Jones industrial average <.DJI> rose 404.71 points, or 3.90 percent, to end unofficially at 10,785.14. The Standard & Poor's 500 Index <.SPX> shot up 48.85 points, or 4.40 percent, to finish unofficially at 1,159.73. The Nasdaq Composite Index <.IXIC> surged 109.03 points, or 4.81 percent, to close unofficially at 2,374.67.

These advances marked the largest daily percentage gains for the indexes since late March 2009.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)