Market up on Bernanke Comments
Posted on Wed 19th Jul, 2006 09:40:25 AM
***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?
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