Monday Bounce Back

Biggest rebound in over a year puts equities positive again for 2010.

S&P 500          +4.4%

Nasdaq                        +4.8%

Dow                 +3.9%

Well so much for the doom-and-gloom Black Monday talks, investors came roaring out this morning after Europe and the IMF agreed on a $1 trillion emergency rescue fund to stabilize the world financial markets and prevent the Greek debt crisis from destroying the Euro.

Is this going to be a consistent and long-term rally from last week’s drop?  Only time will tell, but all this bailout stuff makes me nervous as it is.  I mean, where is all this damn money coming from anyways?  I think it is necessary, to a degree, to stabilize the financial system, but what I really want to know is if the banks in these debt-ridden countries are going to look themselves in the eye sometime soon and ask themselves “are we undercapitalized or not?”  That is the ultimate question, one in which the US banks had to ask in 2008/9.

Top Percentage Gainers

LEN Lennar Corp                                13.0%

GNW Genworth Financial Inc   12.7%

AFL AFLAC Inc                                 12.4%

MI Marshall & Ilsley Corp                    12.3%

JDSU JDS Uniphase Corp                   11.8%

PCLN Priceline.Com Inc                      10.8%

MAS Masco Corp                               10.8%

URBN Urban Outfitters Inc                  10.5%

CBGCB Richard Ellis Group Inc           10.5%

SNDK SanDisk Corp                          10.4%

Top Percentage Losers

DF Dean Foods Co                              -28.4%

MCO Moody’s Corp                           -6.8%

MHP McGraw-Hill Companies Inc       -3.7%

NRG NRG Energy Inc             -2.5%

APC Anadarko Petroleum Corp           -2.1%

TWC Time Warner Cable Inc               -1.8%

TSN Tyson Foods Inc                          -1.8%

CMCSA Comcast Corp                       -1.8%

SVU SUPERVALU INC                     -1.6%

STZ Constellation Brands Inc               -1.6%  

Happy Monday!