The market posted a strong rally today. The Dow
On the Dow, all 30 stocks rose, but the two bank components led the way: Bank of America
And today's move by the European Central Bank was interpreted as very good European news by the markets. The ECB has agreed to buy up unlimited amounts of shorter-term sovereign debt. The catch is the conditions that will come with that backstop, if countries like Spain and Italy seek help. What's especially helpful is that the promised backstop has the effect of lowering interest rates and,thus, borrowing costs. By promising to help, the ECB lowers the likelihood of having to help.
On the e-reader side, the Kindle Paperwhite boasts a back-lit screen and a longer battery life. On the Kindle Fire side, two new HD versions were launched.
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Fool contributor Anand Chokkavelu owns shares of Bank of America and JPMorgan Chase. He also owns long-dated options in Bank of America, and warrants on JPMorgan Chase. The Motley Fool owns shares of Amazon.com, JPMorgan Chase, and Bank of America. Motley Fool newsletter services have recommended buying shares of Amazon.com. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors.