We are back on track: Dow is up 600

[Italkcash Newsfeed]

U.S. stocks sprang higher on Monday as widespread buying fueled the Dow Jones Industrial Average's greatest intraday point gain on record after a frantic weekend of international government actions bolstered confidence in the banking sector and credit markets.

General Motors Corp. surged more than 30% after reports the auto giant had contemplated a merger.
Stocks soared, with the major indexes up about 7%, after the Federal Reserve said central banks would offer banks unlimited amounts and Europe said it would guarantee bank loans.

Shares of Morgan Stanley skyrocketed 77.1% after Mitsubishi UFJ Financial's $9 billion investment into the troubled investment bank went through.

Standouts in the telecom sector included Qwest Communications International Inc. , shares of which added 22%, after the company signed a contract with union workers, drawing an upgrade from broker Morgan Stanley.

Sprint Nextel Corp. climbed 12%, while telecom-equipment suppliers Alcatel-Lucent added 13.4% and Motorola Inc. gained 13%.

This could be the markets stabilizing.

The Doc