Stocks Rocket To Biggest Gains Of 2009

bear dead

Today was one for the record books.

The Dow Jones Industrial Average hit its 2009 year high today, going as high 10,228 in late afternoon trading and finishing at 10,227. The NASDAQ didn’t do too bad either, ending up 41 points at 2154. The S&P 500 was able to gain 23 points to close at 1093.

The Federal Reserve today also released a survey that shows banks are still limiting the amount of credit offered to both businesses and consumers.  The market couldn’t have cared less.

Gold also had a huge day. November gold futures ended at $1,100.80 an ounce and December contracts came in at $1,101.40 as gold continues to break records. Oil ended up $2.00 at $79.43 a barrel. The dollar, as expected, continues to fall to new lows.

When you have a rally like today’s, you’re of course going to see a lot of companies winning big in terms of gains. Wells Fargo (WFC) was up 4.7% to close at $28.40 and Morgan Stanley (MS) closed at $33.95, up 4.1%. Financials really rallied today, along with technology and consumer goods. Energy also was able to pick up significant gains throughout its sector. eOn Communications Corp (EONC) is up 75% to close at $2.89 a share after gaining more than 105% earlier today.

Not everyone got out unscathed, though. grey Television (GTN) took a 22% loss to close at $1.62. Similarly, DeVry Inc. (DV) ended down 3.4% at $53.46. And of course, Kraft (KFT) took a 1% hit on its stock after announcing a $16.3 billion hostile takeover bid for Cadbury.

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