Bernanke gives boost

In Mr. Bernanke's speech today, the Fed chairman said that the central bank was ready to take additional action as needed to aid the economy but also cautioned that "it is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions." I believe his speech helped calm the markets as they go into an extended weekend. The major indexes were all up about 1% with the Nasdaq leading the way at 1.21%. The main question still unanswered is whether the Fed will cut rates at its next meeting on September 18. Crude-oil futures rose 68 cents pushing it right above $74 a barrel. All U.S. financial markets will be closed on Monday because of the holiday. Have a great Labor Day! DJIA +119.01 Nasdaq +31.06 S&P 500 +16.35