The following video is from Monday's edition of Investor Beat, in which host Chris Hill and analysts Jason Moser and Bill Barker dissect the hardest-hitting investing stories of the day.
Former Treasury Secretary Larry Summers, once the favorite to be the next head of the Federal Reserve, withdrew his name from consideration on Sunday, leaving Federal Reserve Vice Chairman Janet Yellen as the new favorite to replace Ben Bernanke. The markets reacted incredibly favorably to the news, with even unrelated stocks popping upwards. In our lead story on this Investor Beat, Jason and Bill discuss whether this paves the way for a brighter future for banking stocks and why this news trickled down into unrelated sectors.
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