Closing Bell: Bernanke Giveth & Taketh Away (YHOO, MS, AAPL, GCA, CYT, EMC)

Filed under: Yahoo! (YHOO), Apple Inc (AAPL), Morgan Stanley (MS), EMC Corp (EMC)

Today was light on economic releases, but heavy on volatility. The earnings bias was a positive one yet the markets sold off heavily in the afternoon. Shortly after Ben Bernanke's growth-promise comments were released ahead of his testimony to Congress showing more risks to the economic recovery, stocks slid and we went from being marginally up on the day into another day with triple-digit DJIA losses. Financial Reform law was signed this morning and it was a known event going into today. Portfolio manager Bill Miller called large cap stocks cheap but cheap can still get cheaper.



Here were today's unofficial closing bell levels:



Dow 10,120.53 -109.43 (-1.07%)

S&P 500 1,069.59 -13.89 (-1.28%)

Nasdaq 2,187.33 -35.16 (-1.58%)



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Closing Bell: Bernanke Giveth & Taketh Away (YHOO, MS, AAPL, GCA, CYT, EMC) originally appeared on BloggingStocks on Wed, 21 Jul 2010 16:30:00 EST. Please see our terms for use of feeds.

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