J.P. Morgan increases bid

J.P. Morgan Chase quintupled its original bid for Bear Stearns, agreeing to pay $10 a share instead of $2. A jump in the large financials along with surprisingly strong home-sales data helped fuel Monday's rally. The tech heavy Nasdaq Composite Index was up 3% but is still down 12% on the year. Despite Monday's impressive gains investors are staying cautious "Who knows if there's going to be another Bear Stearns out there?" said Art Hogan, chief market analyst at Jefferies & Co. DJIA +187.32 Nasdaq +68.64 S&P 500 +20.37