S&P 500 set for largest monthly rise since 1974

The Dow Jones and S&P 500 surged yesterday as market sentiment was lifted by US growth almost doubling in Q3.

GDP growth jumped from 1.3% to 2.5% while the market was also buoyed by eurozone ministers thrashing out a deal to resolve the region's debt crisis. In reaction shares soared, with the Dow Jones closing up 2.86% or 339 points to 12,208, while the S&P 500 gained 3.43% or 42 points, to finish at 1,284. The S&P 500 has risen 13.4% this month and is on course to post its biggest monthly gain since October 1974, when it rose 16.3%. Financials were the biggest winners with Morgan Stanley jumping 17% to $19.41, Citigroup up 9.7% to $34.17 and J.P. Morgan Chase up 8.3% to $37.02. All 30...