The market surged today,as the Fed announced more stimulus. The Dow
Every one of the Dow's 30 components wasup today, and the banks led the charge. Bank of America was up 4.8%,to close at $9.40, and JPMorgan was up 3.7%,to close at $41.40. As the motor oil lubricating commerce, the banks are obvious beneficiaries of any efforts to boost the economy. And the nation's central bank attempting to do so, by buying mortgage-backed securities (which banks tend to own a lot of),is doubly so.
Another sector rallying mightily today was mining. In the S&P 500, Alpha Natural Resources
If you're looking for solid investing ideas beyond the daily news, check out our free report "The 3 Dow Stocks Dividend Investors Need." It features three of the most unassailable businesses in America. Find out their names now.
Anand Chokkaveluowns shares of Bank of America and JPMorgan Chase, LEAPs in Bank of America, and warrants in JPMorgan. The Motley Fool owns shares of Bank of America and JPMorgan Chase. Motley Fool newsletter services have recommended buying shares of Titanium Metals. 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 insights makes us better investors.