Today's 3 Best Stockshttp://www.fool.com/investing/general/2013/07/11/todays-3-best-stocks.aspx Sean Williams
July 11, 2013
What a difference a better explanation makes!
After a month of topsy-turvy trading on the heels of comments from the Federal Reserve that it may soon scale back QE3 -- its $85 billion monthly bond-buying program meant to keep lending rates near historic lows -- Ben Bernanke did his best mea culpa to calm the markets. With economic data signaling the potential for further stimulus, Bernanke's comments helped calm skittish markets into one of the best gains of the year -- and, subsequently, another record high for the broad-based S&P 500 (INDEX: ^GSPC).
By the end of the day, the S&P 500 had eclipsed yet another all-time record closing high, rising by 22.40 points (1.36%), to close at 1,675.02. This also marked its 10th gain in the past 12 sessions, and completely wiped out June's minor correction.
Leading today's big gains is semiconductor chip maker Advanced Micro Devices (NYSE: AMD), which leapt 11.8% after two analyst rating upgrades. Vivek Arya at Bank of America/Merrill Lynch upped his rating on AMD to buy, from underperform, while boosting his price target to $6, from $2.50. Similarly, Canaccord Genuity analyst Bobby Burleson raised his rating to buy, from hold, and upped his price target to $5, from $3. Based