Rebound

Markets bounced back after a dismal day on Tuesday. While Tuesday was full of grim earnings news and inflation talk from Mr. Bernanke, today was more upbeat. Genentech (the biotech drug company) reported an increase of 41% on the quarter. Wow! This cutting edge company (symbol DNA) is staging a comeback from an earlier dip. Housing news may be staging a comeback, as well, but expect this to be slow, as experts think 2008 will be the real turnaround. All indexes responded positively, gaining about 1/2%. DJIA +76.17 NASDAQ +12.63 S&P 500 +8.64