Bear Stearns sells for $2 a share

Bear Stearns stole the spotlight Monday, when they were sold to J.P. Morgan for $2 a share. Many investors thought this deal was coming but at a much higher valuation. On a higher note, big name companies made a comeback as investors seem to be looking for shelter in relatively safe household name companies. The Fed cut its discount rate Sunday, 25 basis points, to leave it at 3.25%. Though usually smiled upon, the cut came with mixed feelings as some traders worry that the Fed is trying to do too much. DJIA +21.16 Nasdaq -35.48 S&P 500 -11.54