Today wasn't about an Obama Supreme Court nominee, nor was it about reform or other legislation in the center of the known world (America). Today was simply about an E.U. and IMF coordinated E.U. bailout package measuring close to $1 trillion. Cautious housing survey data about homeowners being buried further in their houses did little to harm the markets. In fact, this was one of the days where you ended up feeling bad if each of your stock picks wasn't up 4% or more.
Here were the unofficial closing bell levels from today's massive day:
Dow 10,785.74 +405.31 (3.90%)
S&P 500 1,159.68 +48.80 (4.39%)
Nasdaq 2,374.67 +109.03 (4.81%)
Top Analyst Calls
Allied Irish Banks plc (AIB) showed just how good news swings even for PIIGS.... Shares were up 16% at $3.52 late in the trading day.
Moody's Corporation (MCO) was one of a dozen or so companies which just refused to participate at all in today's rally. Moody's may have SEC action in the financial crisis now. Shares were down about 7% at $21.68 late in the trading day.
National Bank of Greece SA (NBG) showed how strong some of these international markets were after the E.U. $1 trillion master bailout plan was announced. Shares were up over 13% at $3.02 late in the trading day.
Goldman Sachs Group, Inc. (GS) was up, then down, on mixed news. Lloyd Blankfein was positive Friday but the word is out that more suits and charges are likely to follow even if a settlement is reached. Whether it was in the red or black was a call down to the closing bell, but late in the day Goldman Sachs was down 0.2% at $142.75.
ProLogis (PLD) was up almost 9% at $12.14 late in the trading day on about 1.5-times normal volume. This might not seem much, but it inked its second deal for installing solar power panels on its roof to sell solar electricity back into the power grid and will earn electric power sales and management fees in return.
The 20 Most Valuable Brands In The World
Score a Great Deal During Memorial Day Sales -- Savings Experiment

