CLOSING BELL

Dow 10785.14  +404.71, Nasdaq 2374.67  +109.03, S&P 1159.73  +48.85 

I hope you did sell last week, because over the weekend the EU and IMF put together a nearly $1 trillion dollar plan to save the Eurozone from a debt contagion crisis and stocks worldwide skyrocketed.

Europe was on fire as the news about the plan spread.  In European markets the major indices closed as follows: Stoxx Europe 50 +7.34%, Belgium Bel-20 +9.37%, France CAC 40 +9.66%, Germany DAX +5.30%, Italy FTSE MIB +11.28%, Sweden OMX +6.30%, UK FTSE 100 +5.16%.

This was followed by the US markets following Europe’s lead.  Stocks had their best day in trading today in over a year making up much of last week’s losses.  98% is the S&P 500 companies posted gains today allowing the S&P 500 index to post its best percentage gain in over 52 weeks.  

The broad-based strength caused the Volatility Index (VIX), or "fear gauge," to a -30% drop which had been up dramatically last week.

Trading was heavy with 1.8 billion shares exchanging hands on the NYSE today and trading volume surpassed its 200-day moving average for the fifth time in a row. 

Advancing Sectors: Industrials +5.7%, Financials +5.6%, Consumer Discretionary +5.3%, Tech +5.0%, Materials +4.8%, Energy +4.0%, Utilities +3.0%, Consumer Staples +2.8%, Health Care +2.7%, Telecom +2.4%
Declining Sectors: None