Finally! Barring a late crisis, the Dow Jones Industrial Average
Concern over China struggling surrendered to optimism about Chinese stimulus measures. The 7.6% GDP increase continued the recent trend of slowing growth, but many investors clearly feared worse. The number met expectations and provided a huge relief that China's struggles were not more serious. China did average a 10.47% annual GDP increase between 1991 and 2010, so the country's slowing growth could still reduce world gains. But the GDP number hit the sweet spot between "too bad for hope" and "too good for stimulus," so investors considered it a big relief -- and a big win.
The official JPMorgan Chase
The big movers
Shares of Procter & Gamble
Most of the Dow components piggy-backed on JPMorgan's success today, but the banking giant did cause one component to stumble, too. Hewlett-Packard
Great day, time to buy?
The headlines impressed, and left many investors wondering: "Is now the time to buy?" Economic uncertainty will continue to plague the markets, and investors still need to evaluate each company on an individual basis. But the news does soothe some overall concerns after the Dow's long losing streak. Keep the long-term storylines closer to heart, but maybe sleep a little more easily tonight.
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Will Chavey owns no shares of the stocks mentioned above. The Motley Fool owns shares of JPMorgan Chase. Motley Fool newsletter services have recommended buying shares of Wells Fargo and Procter & Gamble. The Motley Fool has a disclosure policy.
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