Mr. Market has been on one heck of a climb for the year. The Dow Jones Industrial Average
Gain / Loss
Gain / Loss %
|Dow Jones Industrial Average||+160.9||+1.2%||13,241|
Ben Bernanke's comments at the National Association for Business Economics Conference today were the fuel for the Dow's rocket shot. Big Ben noted that the jobs market was looking up but is still far from where it needs to be, and that's why he indicated that supportive policies weren't going away any time soon, adding to the belief that further quantitative easing from the Fed could help continue the market's multi-month rally. With the economy showing signs of improvement, investors have to imagine that the Fed will withdraw support eventually, but today wasn't that day.
The big winners
Perhaps surprising to some is that after a horrendous 2011, financials have led the market's charge to multiyear highs. The S&P financial index is up 23% for the year, and Bank of America
On the Dow, the biggest winner today was American Express
Off the Dow, newbie car manufacturer Tesla
The best way to play the news
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Austin Smith owns shares of Berkshire Hathaway. The Motley Fool owns shares of Bank of America. Motley Fool newsletter services have recommended buying shares of Tesla Motors and creating a write covered strangle position in American Express. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter services free for 30 days.
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