Markets okay
I always get nervous when someone tells me to be calm.
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From Forbes.com:
Perhaps it will be known as the “Bernanke rebound.”
Coming off a 416-point plunge, the Dow Jones industrial average climbed more than 100 points by midday on Wednesday after Federal Reserve Chairman Ben Bernanke said that he expects moderate economic growth and that no single factor caused the Dow’s nose dive on Tuesday.
By the closing bell, some of those gains receded, as the Dow rose 52.39 points, or 0.4%, to end at 12,268.63. Yet investors still appeared more confident than they did early in the morning, during which the Dow made only minor gains.
The tech-heavy Nasdaq Composite also finished higher, climbing 8.29 points, or 0.34%, to 2,416.15. The more broad-based S&P increased 7.78 points, or 0.6%, to 1,406.82.
Bernanke’s comments appeared to mollify investors who were spooked by remarks earlier in the week from former Federal Reserve chief Alan Greenspan that a U.S. recession was possibly in the cards for later this year. (more…)
