Stocks leap on central banks' coordinated action

ipoguru · 1 Stocks leap on central banks' coordinated action Wed Nov 30, 2011 10:54 pm

ipoguru

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Stocks soar after central banks ease banks' access to dollars, reducing fears of credit crunch

Central banks around the world took joint action Wednesday to give banks easier access to dollars, jolting stock markets and easing fears of a global credit crisis. The Dow Jones industrial average soared more than 400 points.
Markets in Europe also surged. Germany's DAX index closed up 5 percent. The euro and commodities prices rose sharply. U.S. Treasury prices fell as demand weakened for ultra-safe assets.
Big U.S. banks were among the top gainers on the stock market. JPMorgan Chase & Co. jumped 6.6 percent; Morgan Stanley 6.9 percent and Citigroup Inc. 6 percent.

http://finance.yahoo.com/news/stocks-leap-central-banks-coordinated-144638713.html

aj · 2 Re: Stocks leap on central banks' coordinated action Thu Dec 01, 2011 9:42 am

aj

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15 banks downgraded. (Bank of America, Citigroup, Goldman Sachs (GS, Fortune 500), Morgan Stanley (MS, Fortune 500), Wells Fargo and JPMorgan Chase)

Both happened on the same day. Looks like a plaster to cover up a third degree burn.