By Caroline Valetkevitch
NEW YORK (Reuters) – Stocks surged on Wednesday after major central banks agreed to make cheaper dollar loans for struggling European banks to prevent the euro-zone debt woes from turning into a full-blown credit crisis.
The Dow posted its best day since March 2009 after the Federal Reserve, the European Central Bank and other major central banks stepped in to head off escalating funding pressures that threaten the key arteries of the world’s financial system.
The SP 500 scored its best daily percentage gain since August.
The central banks’ liquidity move touched off a buying frenzy in financial shares. The SP financial sector index gained 6.6 percent, with Bank of America the most actively traded stock. The stock jumped 7.3 percent to $5.44 on more than 420 million shares traded.
The drama in Europe kept the U.S. stock market on a roller-coaster ride throughout the month. For November, the SP ended down
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