Top 3 Reasons Today’s Markets Were Up Big

Markets closed up on Wall Street: DJI +1.66% SP500 +1.66% Nasdaq +1.65% Gold +0.16%

The markets were up big because:

  • Federal Reserve Chairman Ben Bernanke said the US Central Bank will remain economic silver lining. “Should further action prove necessary, policy options are available to provide additional stimulus.” Check out the entire speech from Jackson Hole >
  • GDP came in at a hobbling 1.6% growth. However, analysts were expecting 1.4%, so Chairman Bernanke’s aforementioned speech overshadowed the otherwise scary GDP slowdown. Don’t Miss: Your Ultimate Cheat Sheet to GDP >
  • US Credit Card losses are surprisingly slowing. The Financial Times says, “The divergence from past experience reflects bank efforts to weed out risky borrowers, moves by consumers to pare back debts after the excesses of the past decade and new credit card rules intended to discourage reckless lending.”