Yesterday the Dow Jones Industrial Average
So far today the Dow is up 0.8% -- a third of yesterday's pop -- after the world's second-largest economy, China, actually took action to increase its growth by lowering interest rates by 0.25%. Also today, Ben Bernanke addressed Congress, giving the same boilerplate remarks as Draghi and stating that the Federal Reserve is ready to take action if needed. However, unlike yesterday's spike, the broad markets retreated slightly after the Fed chairman's remarks.
Dow component Caterpillar
Basic materials is the leading sector today -- no surprise there, given the news of the day. Alcoa
In the Internet information industry, Facebook is down as it takes a backseat to Yelp
The good news is that the Dow Jones Industrials are once again performing well, making it three straight days in the green. Although this has not happened in more than a month, we must be aware that Europe is still in a perilous state. In order to stabilize the market for a long bull run, the central banks will need to take a page out of China's book and make a move. The problems are complex, and the treatment is supplied in small doses, so expect some turbulence on the way.
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