The tight labor market surely was not on the minds of autoworkers, who face more layoffs. DaimlerChrysler(DCX Quote) unveiled a restructuring plan that includes cutting 13,000 jobs in the next two years. Its shares soared 8.3%, and General Motors(GM Quote) and Ford(F Quote) got a small 0.4% and 0.7% boost respectively as well.
So the markets took Bernanke's testimony as a Valentine's Day gift, but the true test of a relationship comes amid regular every-day scenarios. The rest of the week brings data on housing, producer prices, industrial production and consumer sentiment. Investors would do well to remember that with many Bernanke-sparked rallies, the follow-through can be iffy.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,223.24 | 1,090.92 | 2,148.20 | 34.71 |
Oil *
76.77
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DOWN
3.70
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DOWN
2.15
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DOWN
5.86
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DOWN
0.15
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10 Yr
3.47%
SPDR Gold
107.88
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-0.04%
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-0.20%
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-0.43%
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