NYT/Reuters: Stocks Fly on Bernanke Inflation Talk

Stocks Fly on Bernanke Inflation Talk
By REUTERS
Published: July 19, 2006

NEW YORK (Reuters) - Stocks rallied on Wednesday, giving the Dow its second-best day of the year, as

Federal Reserve Chairman Ben Bernanke's comments on inflation suggested the central bank may be close to ending two years of interest-rate increases.

Stock investors took their cue directly from the Fed chairman, who told the U.S. Senate Banking Committee that he saw core inflation moderating in the coming quarters. That set off a burst of buying that resulted in a single-session record number of stocks advancing on the New York Stock Exchange and drove the S&P 500 back up into positive territory for the year.

Financial stocks, which climbed after news of strong earnings from JPMorgan Chase & Co. (JPM.N) and Bank of America Corp. (BAC.N), got another boost from the central banker's comments.

"The combination of Bernanke's comments, strong earnings from banks and a drop in oil prices swept the stock market,'' said Weston Boone, vice president of listed trading at Stifel Nicolaus Capital Markets in Baltimore. "This was a very good day, with a broad rally.''...

http://www.nytimes.com/reuters/business/business-markets-stocks.html

its employees?

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2006/07/19/financial/f112657D75.DTL&feed=rss.business

Pardon my cynicism. :(

class? He thinks middle class workers need training because of some imagined skills gap. Oh yeah right, the only skill workers from India, Mexico and Vietnam have that US workers don't have is the skill to accept much lower wages.

ROFL