Friday, August 26, 2011

Tech (CSCO) (INTC) (MSFT) Leading Markets Up

Tech is leading a rebound in the market today, with Cisco Systems(NASDAQ:CSCO), Intel (NASDAQ: INTC) and Microsoft (NASDAQ:MSFT) topping the field.

Much of this is in response to Federal Reserve Chairman's Ben Bernanke saying at the next Fed meeting there will be discussion of more so-called "stimulus" measures in September.

Bernanke said, "In addition to refining our forward guidance, the Federal Reserve has a range of tools that could be used to provide additional monetary stimulus. We discussed the relative merits and costs of such tools at our August meeting. We will continue to consider those and other pertinent issues, including of course economic and financial developments, at our meeting in September, which has been scheduled for two days (the 20th and the 21st) instead of one to allow a fuller discussion. The Committee will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate to promote a stronger economic recovery in a context of price stability."

Intel was trading at $19.79, up $0.37, or 1.91, as of 12:00 PM EDT. Cisco was at $15.47, jumping $0.39, or 2.55 percent. Microsoft was at $25.25, climbing $0.68, or 2.77 percent.

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