Monday, October 10, 2011

Markets soar on European bank bailout

Dow shot up an amzing 260, advancers over decliners 9-1 & NAZ gained 72.  Higher bank stocks took the Financial Index up 6 to 165.  The MLP & REIT indices are each up 5-6 & junk bond funds rose about 2% while Treasuries are flat.  Oil & gold are also rising.

ALERIAN MLP Index (^AMZ)



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Leaders of France & Germany promised to strengthen Europe's banks & bailouts bring out stock buyers.  German Chancellor Merkel & French President Sarkozy said a "comprehensive response" to the debt crisis would be finalized by the end of the month, including a plan to make sure that banks have adequate capital. Now investors are reassured & buying stocks like crazy.  But not sure how long this enthusiasm will last.

Dow Industrials (INDU)


stock chart





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