Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Thursday, May 15, 2008

Bernanke Bump

Mr. Bernanke testifed today and assured investors that the crisis in the banking industry is easing. The Senate is close to passing a relief package for stressed homeowners. And GE is selling off its appliance business. All this and oil dipped slightly. The combination resulted in a rally on Wall Street. NASDAQ was the big winner, adding on about 1 1/2%. DJIA +94.28 NASDAQ +37.03 S&P 500 +14.91