He may not have the pull of Alan Greenspan during the go-go '90s tech boom, but Ben Bernanke can still move a market.
Stocks sold off briefly this morning but have since erased those losses and are trading near session highs. The Federal Reserve chairman, testifying in front of the Senate Banking Committee, reiterated that the Fed was prepared to act while moving closer to a new round of monetary stimulus. When and how that stimulus would take shape was left unsaid, making investors think the Fed is inching, not running, toward intervention.
That said, let's see how the three major indexes are faring and take a closer look at several Dow stocks making headlines.
Dow Jones Industrial Average
Source: Yahoo! Finance as of 2:30 p.m.
The Nasdaq continues to show greater weakness than the Dow and S&P 500, while oil continues its mini-run, reclaiming the $90-per-barrel mark. The VIX volatility index continues to sit near 52-week lows and has declined more than 5% so far today. Currently, all but six of the Dow's components are showing gains, with Disney
Earnings season is in full swing; two Dow components reported this morning. Coca-Cola
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David Williamson owns shares of Johnson & Johnson and Coca-Cola, but he holds no other position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of Walt Disney, Johnson & Johnson, and Coca-Cola. Motley Fool newsletter services have recommended buying shares of Johnson & Johnson, Walt Disney, and Coca-Cola. Motley Fool newsletter services have also recommended creating a diagonal call position in Johnson & Johnson. The Motley Fool has a disclosure policy.
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