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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Regions Financial (NYSE: RF ) rose more than 12% in early trading and closed up about that much on hopes that President Obama's forthcoming jobs plan would include some form of mortgage relief.
So what: We won't know more until tomorrow night, when the president addresses a joint session of Congress. Rumored proposals include an extension of payroll-tax relief for workers and short- and long-term plans for upgrading the nation's infrastructure.
Now what: There's no way to know if the new jobs bill would aid Regions, but the bank is notable as being the largest publicly traded holding company to still owe the federal government for funds disbursed under the TARP bailout program. Speculators seem to believe the legislation would create a windfall. Do you agree? Disagree? Please weigh in using the comments box below.