Party on Wall Street (Major gauges surge, tripping circuit breaker)

[tritsofme]

NEW YORK (CNNMoney.com) - Stocks posted one of the best days of the year Thursday, with the Dow Jones industrial average settling above 11,000, after Federal Reserve Chairman Ben Bernanke delivered a non-alarmist speech on inflation, extending a morning rally sparked by tame economic reports.

The Dow Jones Industrial Average (up 219.40 to 11,036.32, Charts) jumped about 1.8 percent, while the broader Standard & Poor's 500 index (up 26.07 to 1,256.11, Charts) advanced 2.1 percent, according to early tallies. The Nasdaq composite (up 58.83 to 2,144.83, Charts) surged 2.8 percent.

The size and breadth of the rally led the New York Stock Exchange to institute a restriction on trading - circuit breakers that prevent the market from rising or falling too much on any given day.

It also led some investors to speculate that stock's long slide over the last several weeks may finally have come to an end.

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http://money.cnn.com/2006/06/15/markets/markets_newyork/index.htm