Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, June 27, 2011

Monday

U.S. stocks soared, rebounding from three days of losses, as the technology sector surged and financial stocks jumped on banking capital requirements that were less oppressive than expected. Microsoft, a Dow component, jumped 4.4%. The software giant is expected to introduce a cloud version of its Office application this week. Today's moves came after international regulators agreed to require the world's largest banks to hold an extra layer of financial padding. The agreement will force global banks that are considered too-big-to-fail to maintain capital cushions that are significantly thicker than other institutions. Still, investors and analysts found solace that the capital requirements don't appear to be as burdensome as originally feared. DJIA +108.98 Nasdaq +35.39 S&P 500 +11.65.