For months, investors have waited for European leaders to take action to try to resolve the financial crisis there. Today, they finally got their wish, as European Central Bank leader Mario Draghi outlined a program under which the ECB would purchase bonds from weaker-performing nations in an effort to reduce their interest expenses. Stocks in Europe vaulted higher on the news, and the good cheer spread across the Atlantic, as the Dow Jones Industrials
Financial stocks were the biggest gainers in the Dow, with Bank of America
A host of industrial stocks also performed well. Alcoa
Finally, Cisco Systems
You can bank on it
When central banks move, stocks jump. But those short-term gains don't always last. Bank of America in particular has gotten hit with big ups and downs amid changing economic conditions. Is now a good time to buy, or are the big gains already in the stock's price. Get our take in the Fool's new premium research report on Bank of America, in which our top banking analysts look at where B of A is headed. Click here now to get started.
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, Cisco Systems, 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.