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.
Bernanke is supposed to be for a weaker Dollar...which would explain why the Market rallied, as a weaker Dollar makes foreign imports more costly and less competitive with our domestic goods and services.
Foreign governments have propped up the Dollar for too long, anyway (60 years, really). It's high past time to take it back down to a realistic level.
The markets clearly like this guy.