It's been sometime since I wrote on the blog but plan to be post more regularly henceforth.
The last couple of weeks in the market had a lot happening on all fronts.
The JP Morgan and Fed bailout of Bear Sterns was a relief of sorts for (BSC) since it's cash position had significantly deteriorated however the events rattled many investors. The skepticism and anticipation of what happens to the other investment banks and financial institutions led to the falling markets. Lehman Brothers and Goldman Sachs reported better results than expected which led to the big rally early last week.
The Fed are definitely taking a lot of measures to curtail the recession and has pumped billions into the economy. It cut the discount rate again which matters a lot since that's the rate at which security firms borrow money.
It was good to see that JP Morgan upped the bid to $10 from $2 per share of BSC. (I can't imagine that company which was trading a year back for $170 per share going for $2 per share)
The Dept. of Justice approved the Satellite radio merger between Sirius and Xm Radio.
The combined effect of all this besides the manufacturing/factory report, rise of home sales data, tech stocks rally and the new Bear bid boost the market which finished higher end of last week.