The Dow picked up 135 points, to 12,504, ending a six-day losing streak and brightening what has been a miserable May. The gain came despite Facebook's stunning 11 percent drop in its second day of trading (the stock is now priced at around $34 a share). From the WSJ:
"The markets were both technically and psychologically oversold and were due for a bounce," said Prudential Financial PRU +1.32% market strategist Quincy Krosby. "We're getting that bounce, but it's against a backdrop of promise and hope that you're going to hear an announcement from the Europeans and perhaps from the Chinese on more stimulus."