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All-Time High: Why the Dow Surged 169 Points Thursday

John Divine
July 11, 2013

While stocks wavered during trading yesterday after minutes from the June Fed meeting were released, Thursday was a different story altogether. The Big Cheese himself, Fed Chairman Ben Bernanke, spoke Wednesday evening about the central bank's quantitative easing strategy going forward, and he made it quite clear that the money-printing wasn't going to stop any time soon. Wall Street subsequently roared back to life, and the Dow Jones Industrial Average (INDEX: ^DJI) gained 169 points, or 1.1%, to close at 15,460, an all-time closing record.

Intel (NASDAQ: INTC) added 3.2%, a day after what might appear to be crushing news for the chip maker hit the streets. Reports from research firms Gartner and IDC both showed PC sales trending about 11% lower in the second quarter, which makes for a fifth straight quarterly decline. However, the market has mostly seen this trend coming, and the recent data actually showed a slowdown in the decline from the first quarter's 14% tumble in shipments.

While Intel may have been the Dow's top gainer today, Microsoft (NASDAQ: MSFT) ma