For bulls, today was the ultimate culmination of a sequence of events that started months ago. Ever since the European financial crisis started spreading out of Greece to larger countries,, like Italy and Spain, investors have been on edge, waiting for Europe to come to some consensus on how to handle the problems there. Today, the European Central Bank finally blinked and took action, agreeing to buy bonds in an effort to reduce the high interest rates that have Spanish and Italian investors so worried. Stocks around the world soared in response, and the Dow Jones Industrials
The most direct beneficiaries of the ECB's move were financial stocks, with JPMorgan Chase
Don't let market hysteria lead you to make bad choices with your money. A more reasoned look at stocks is the best path to success. For instance, General Electric did well today, but it still faces plenty of challenges. Get both sides of the coin in the Fool's premium report on General Electric, and make a smarter investing decision.
Fool contributor Dan Caplinger owns warrants on JPMorgan Chase. You can follow him on Twitter @DanCaplinger. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.