Financials and Oil & Gas Stocks Explode Out of the Gate

Today's early rally is being led by the Financial and Oil & Gas Sectors, which are currently up 2.7% and 2.3% respectively.

The two sectors, which have been amongst the hardest hit during the recent downturn, are looking to make up ground today, as markets surge on news that Germany may participate in a Euro Zone bailout package.

The S&P 500 (SPX) is up 19 points (1.6%) to 1184. The Dow Jones Industrial Average ($DJI) is up 151 points (1.4%) to 11,290 and the NASDAQ (COMP), which is the strongest of the group, is up 42 points (1.7%) to 2,516.

The move has led to a dramatic 3.3% plunge in the price of gold futures (/GC), currently trading at $1811.40.

Silver futures (/SI) are also taking a beating – currently down 2% from yesterday's close to $41.01.

Oil prices, on the other hand, are surging – trading up 2.8% from yesterday's close to $88.42. Crude may be looking to climb above $90 - a level it has not traded above since August 4th.

The strongest performing stocks in the S&P 500 Financial Sector in today's session currently are

1) Regions Financial (NYSE: RF): Shares of Regions are currently up 7% from yesterday's close to $4.16.

2) NASDAQ OMX Group (NASDAQ: NDAQ): Shares of NASDAX OMX are currently up 5.5% from yesterday's close to $22.89.

3) American International Group (NYSE: AIG): Shares of AIG are currently up 5% from yesterday's close to $24.48.

4) Genworth Financial (NYSE: GNW): Shares of Genworth are currently up 5% from yesterday's close to $6.34.

5) NYSE Euronext (NYSE: NYX): Shares of NYSE Euronext are currently up 4.7% from yesterday's close to $26.28.

The strongest performing stocks in the S&P 500 Oil & Gas Sector in today's session currently are

1) Williams Companies (NYSE: WMB): Shares of Williams Companies are currently up 5% from yesterday's close to $26.80.

2) Denbury Resources (NYSE: DNR): Shares of Denbury Resources are currently up 4.6% from yesterday's close to $15.00.

3) Rowan Companies (NYSE: RDC): Shares of Rowan Companies are currently up 4.6% from yesterday's close to $35.68.

4) Newfield Exploration (NYSE: NFX): Shares of Newfield are currently up 4.1% from yesterday's close to $49.02.

5) Noble (NYSE: NE): Shares of Noble are currently up 4% from yesterday's close to $33.59.