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Stocks Rally For a Second Day on Wednesday, BAC to Increase Efforts

By: , dated July 18th, 2012
On Wednesday US indices traded higher for a second day in a row led by techs and two housing reports showing improvements. All three major averages–the Dow Jones, S&P 500 and Nasdaq are back in the positive for July. Global markets including Asian stocks continue to fall after Bernanke’s second day of ¬†testimony. The Fed reported in its “Beige Book” that the economy expanded modestly in June and early July. Bank of America (BAC) is ready to increase their stimulus efforts. Capitol One Group (COF) announced that it will pay $210 million to settle charges about misleading customers to make certain card purchases. The US dollar dropped slightly lower to the euro and decreased against the Japanese yen as well.

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