Market up on Bernanke Comments

***Written By: Blain Reinkensmeyer Stock Forum ID: StockTrading101***

As of 11:36 AM the Dow is up over 154 points, the Nasdaq is up over 26, and the S & P 500 is nearing a 18 point gain. The reason? Federal Reserve chairman Ben Bernanke reassured the market on inflation, raising hopes the central bank may stop raising interest rates. And who wouldn’t mind that?

Strong earnings from J.P. Morgan Chase and International Business Machines also helped to raise the overall positive notion this morning, though not nearly as significant as Bernanke’s comments.

Is this a foreshadowing of an even greater rally once the Fed meets again next month?

More on this topic (What's this?)
Lie of the Day (naked capitalism, 9/24/08)
That ADP Number (Random Roger's Big Picture, 7/7/06)
Fed’s Damaged Balance Sheet Will Take Down The Dollar (Contrarian Profits, 11/13/08)
Read more on Federal Reserve at Wikinvest

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-- Posted by Blain Reinkensmeyer on July 19, 2006 at 9:40 am --

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