Investors last week enjoyed the announcement and subsequent afterglow for the Federal Reserve's much-anticipated third round of quantitative easing. Chairman Ben Bernanke has kept QE3 open-ended, meaning the Fed will continue to buy various securities to push rates lower and hopefully spur investment. While this may not get the economy jump-started given the uniqueness of the crisis, at least the Fed has stopped sitting on its hands and is doing what it can, with limited ammunition left.
Today, all three major indexes are catching their breath after topping multiyear highs in the wake of seeing that Bernanke and his European equivalent, European Central Bank President Mario Draghi, are willing to do basically whatever it takes to prop up the markets. With stronger actions from politicians, let's all hope the monetary policy will do more than just jump-start another bull rally.
The Dow Jones Industrial Average
The Nasdaq, which after the morning session was sitting on the biggest decline, rallied back to close down less than 0.2%. Credit goes partially to Apple
To find out whether Apple is still a buy at these lofty levels, download our new premium Apple report. It will get you ready for iPhone 5, and for what surprises Apple has in store for investors and consumers going forward. Get your copy today by clicking here.
David Williamson holds no position in any company mentioned. Check out his holdings and a short bio. The Motley Fool owns shares of Apple and Bank of America. Motley Fool newsletter services have recommended buying shares of and creating a bull call spread position in Apple. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.