Monster Stock Rally, Banks Rescued, Morgan Stanley Soars

A fiery surge pushed the DJIA to its greatest point gain of all time today. News from the G7 meeting in Washington, D.C. that the Central Banks will step in to support the world’s financial system triggered the rally across the board. These interventions include the U.S. buying stock in banks and the Euro Zone putting up 2.3 trillion of bank guarantees and cash to support the struggling system. The stock market seem to favor this news, resulting in a history making rally. The DJIA jumped +962.55 to 9413.74, the Nasdaq was up +194.74 to 1844.25 and the broad based S&P 500 broke back through the technically critical 1000 level by adding +105.04 to 1004.26.

Morgan Stanley (MS | Quote | Chart | News | PowerRating) – Soared 85.85% or $8.31 to $17.99/share after closing a $9 billion dollar deal with Japan’s Mitsubishi Financial Group

United Health Group (UNH | Quote | Chart | News | PowerRating) – Advanced 34.12% or $5.92 to $23.27/share due to Goldman Sachs recommending the sector

Boston Scientific (BSX | Quote | Chart | News | PowerRating) – Exploded up 25.31% or $1.85 to $9.16/share once word leaked that the founders have mostly completed their involuntary share sales.

Ford (F | Quote | Chart | News | PowerRating) – Had its biggest intraday gain since 1980 after the automaker announced it was considering selling its share in Mazda. Shares added 24.12% or 48 cents to $2.47/share

Gold fell $19.40 to $839.60, oil climbed $3.90 to $81.60 and the fear gauge VIX collapsed 21.40% to 54.98.

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