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