Dow up nearly 300; European Stoxx 600 up 4.9 percent.
Optimism that the recession is making a turnaround combined with the G-20's decision to inject $500 billion of new funds into the global economy boosted spirits in trading floors in New York and Europe today. The pan-European Dow Jones Stoxx 600 closed up 4.9 percent—the second-largest gain this year—while the Dow Jones average in New York rose nearly 300 points by midday. The UK FTSE also closed up 4.3 percent and the German DAX a whopping 6.1 higher.
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