Bernanke announced another round of QE about an hour ago which has sent the markets tearing higher. The major stock averages are all up about 1% right now. This latest stimulus from the Fed will see the central bank buy $40 billion of mortgage debt every month and continue to buy assets to help the struggling jobs market.
A quick look at the market shows the Dow up over 100 points, the Nasdaq up over 30 and the S&P up about 13. [Read more...]