Stocks Meltup Continues, Euro Plummets, And Morgan Stanley Bruised

Stocks are generally up across the board, with the Dow up just below triple digits, and the NASDAQ leading the pack with a gain of over 1.2%.

One big standout loser: Morgan Stanley (MS) has been off a couple per cent all day after the Wall Street Journal’s report about a criminal investigation into the firm’s own CDO deals.

Meanwhile, the euro is getting hammered. But don’t let that distract you! This doesn’t necessarily mean Europe is melting down. Nope. This is the ECB’s plan. Remember, we’re seeing competitive devaluations, and so when you see EUR falling, it means they’re winning.

From FinViz, here’s a look at the euro’s volatility over the last several hours.


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