Big Day for the Dow? So What?

The Dow Jones Industrial Average soared more than 900 points Monday, the largest one day move in history.

So what.

It is easy to get drawn into a daily drama of the stock market, especially the Dow index. But remember the Dow is only 30 companies out of the thousands of publicly traded equities. In the grand scheme of things, it is not the best barometer for the health of the market. Conversely, Libor rates and commercial paper volume are virtually unknown to casual observers of Wall Street, but provide a far more important measure of the underlying health of the credit markets, the lifeblood of the financial system. ...