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Stocks took investors on a roller coaster ride in Wednesday's session.. starting out strong then falling into the red, only to recover by the closing bell. The Dow finally rebounded to a 41-point gain. The Nasdaq and the S&P 500 following a similar pattern wrapping up the day higher. The big news that drove the markets: a surprise move by the US Federal Reserve. It joined with other major central banks to make it easier for banks to borrow money. The Fed is launching a new temporary short term lending facility that banks can use to secure funds. While stocks at first reacted well to the move, the mood temporarily turned in the afternoon as financial began to move lower. It was concerns about mortgage losses briefly overtaking the initial optimism about the Fed's move. Among the financials in the news: Citigroup. Morgan Stanley said Citi was its top pick to short for 2008, and warned Citigroup could cut its dividend. Bank of America, PNC and Wachovia warned of writedowns and loan losses. All of those stocks finished out lower for the day. And a bright spot: energy stocks. Shares of energy companies posted gains for the day. Exxon Mobil closed higher by 1.8 per cent and Conoco Phillips was up 2 per cent. The energy sector ramped up after Crude oil moved higher. Crude oil finished the day up, settling above 94 dollars a barrel. Turning now to European markets, stocks ended higher regaining earlier losses. Energy stocks were among the biggest gainers there as well. The German Dax, Paris Cac 40 and the London FTSE all finished the session to the upside. For Reuters, I'm Diane King in New York.