MARKETS RALLY AS THE FED MEETS: Here's What You Need To Know (MSFT, JPM, FDX, JCP)
Business Insider - over 4 years
Markets enjoyed a nice rally, led by strength in financials and a rumor that Angela Merkel would allow the EFSF to buy distressed sovereign debt.
But first, the scoreboard:
Dow: 12,837.3, +96 Nasdaq: 2,929.8, +34 S&P 500: 1,358.0, +13
Here's what you need to know.
JPMorgan's chief executive Jamie Dimon returned to Washington for a second hearing, this time before the House Financial Services Committee about the company's $2 billion trading. Unlike the Senate hearing, Dimon was hit with a series of sharp questions from both sides of the aisle over derivative trading, the company's risk models, and if other banks would have failed had they undertaken a similar trade.
A Greek coalition government is expected to be formed by midday tomorrow, missing earlier expectations for that to occur today. PASOK leader Evangelos Venizelos told reporters today that his party would "sincerely" support the coalition, but that left-wing party Syriza would not participate in the negotiation
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