The Printing Press of Mighty Ben

Boeing says 787 is delayed, again.

Intel lowers the revenue forecast for 3Q.

GDP growth is lowered -U.S. Stocks Advance on GDP Data, Bernanke Pledge to Spur Growth - BusinessWeek: "Benchmark indexes rebounded from seven-week lows today after the government said the U.S. economy grew at a 1.6 percent annual rate in the second quarter, topping the average economist estimate of 1.4 percent.

‘Not as Bad’

“The GDP numbers were bad, but not as bad as expected,” said Frank Ingarra, a Stamford, Connecticut-based money manager at Hennessy Advisors Inc., which oversees about $850 million. “The whisper numbers were 1.3, 1.4 percent. That’s why the market sold off so much during the week because everyone was expecting these numbers to be awful.”"

SO why was the market up by more than 1.6%?

Fed Stands Ready to Do More, Bernanke Says - NYTimes.com: "Mr. Bernanke said the Fed, having kept short-term interest rates at nearly zero since 2008, had essentially four options:

It can purchase more government debt and long-term securities. It can try to coax down long-term interest rates by announcing its intention to keep short-term rates extremely low for even longer than the markets currently expect. It can lower the interest rate it pays on the funds banks hold at the Fed. And it can raise its medium-term target for inflation, which would discourage banks from sitting on their cash."