Stocks Surge On Unprecedented Global Financial Fix-Up

Stocks are surging today on hopes new initiates to bolster the global financial systems will have a meaningful impact on unfreezing the credit markets and warding off a colossal economic slowdown. Today's move follows what was arguably the worst week in stock market history, with the Dow and other world wide stock indexes selling-off 18% or more.

At 3:10PM, the Dow was up 670 points, the Nasdaq was up 139 and the S&P 500 was up 73.

Today, the U.S Treasury and the Federal Reserve are meeting with leading financial market participants to finalize details on a financial market stabilization initiative.

This morning, the Federal Reserve said swap lines between the Federal Reserve and the Bank of England , the European Central Bank, and the Swiss National Bank will be increased to accommodate whatever quantity of U.S. dollar funding is demanded.

Embattled investment bank Morgan Stanley (NYSE: MS) rose an incredible 80% today after the company closed the much-anticipated $9 billion investment from Mitsubishi UFJ Financial.