It has been pointed out to me that the DOW average is in reality lower, if you consider that a few companies were kicked out this last year for insolvency. Think GM.
Investors expect that interest rates will remain the same after the Fed meeting, which began today, ends Wednesday afternoon.
There will be keen interest to hear what Bernanke says about the recovery and the present state of the economy. One might imagine that the range of news from disastrously bad to amazingly good will dramatically affect the DOW and S&P. This is pretty big.
Reuters: Recovery bets lift Wall Street
With no change expected in interest rates, investors probably will focus on the bank's assessment of the economic outlook, particularly after Chairman Ben Bernanke said last week that the recession was "technically" over.
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