[advance_copy]

Looks like Wall St. likes the President's pick.

[Fiddlstix]

BTTT

[Perdogg]

I have noticed how gas has fallen $0.40/gallon and the press hasn't said anything about it.

[Howlin]

And a whole bunch of "real conservatives" here at FR don't.

Such a surprise.

[Grampa Dave]

Thanks I was going to post something similiar from Market Watch.

Below is that link:

http://www.marketwatch.com/news/story.asp?guid=%7B796C25D6%2D64BA%2D4A44%2D8589%2D6C0140ECC38B%7D&siteid=mktw&dist=

MARKET SNAPSHOT

U.S. stocks rally; Bernanke nominated
Dow, S&P 500 rack up biggest one-day gains since April

By Leslie Wines, MarketWatch
Last Update: 4:35 PM ET Oct. 24, 2005 [ Page 1 | 2 ]
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NEW YORK (MarketWatch) -- U.S. stocks closed sharply higher Monday, with the Dow Jones Industrial Average and the S&P 500 posting their biggest one-day gains in six months, after strong earnings and the White House's nomination of administration economist Ben Bernanke as the next Federal Reserve chief.

[MadIvan]

This is fairly good news. I was under the impression that it was going to fall no matter who got picked as the market has this weird underlying assumption that Greenspan was somehow making the economy levitate as if by magic.

Regards, Ivan

[Snardius]

Dow Closes Up 170 on Fed Chief Appointment

If we let him pick a new Fed governor every Monday we might have a trend...

[ex-snook]

The yo-yo goes up, the yo-yo goes down.

[groanup]

I don't know much about the new Fed chief but if you're looking for investor proxies on him look no further than the bond and currency markets. Bonds and the dollar got slammed on this news.

[BigSkyFreeper]

Looks like Wall St. likes the President's pick.

While "real Conservatives" here on FR don't. Go figure.

[hubbubhubbub]

Another 15% and the DJIA is back at its 2000 peak.

[PhiKapMom]

Looks like Wall Street knows more than some of the negative Freepers on here about the pick that came out immediately with the doom and gloom comments.

[taxed2death]

Looks like this new guy might be a bright spot on the horizion.
Let's hope.

[blau993]

You go Ben!!

Keep it up. I want to retire in a few years.

[RightWhale]

Seems like Wall Street has responded to a choice that won't take effect for a while and when it does take effect who knows what the effect would be. Seems like a mindless thing to do.

[Afronaut]

Was Ben Bernanke the Presidents first pick for Fed Chief? I heard Bushe's accountant turned it down. Does Ben Bernanke go to Church? Is he a Pit bull in size 9 1/2 shoes? Who is this stranger?

Good luck to Mr. Bernanke.

[RandDisciple]

The Bernanke selection signals to the market that there will be less concern over inflation and over a weakening dollar. As he is famous for his "We have a thing called a printing press" quote, which was in response to how we should fight falling prices. Therefore the dollar and U.S. bonds and notes fell on the news of his selection, as they are the financial instruments most harmed by inflation.

For the many on FR that think a weak dollar is the path to economic growth, they are obviously pleased. There was a time when it was only the Democrats who wanted to devalue our currency because they felt it helped the union manufacturing workers and hurt the wealthy "savers" or Republicans. The weak dollar goal is yet another new Bush doctrine that is against traditional Republican policy.