On the whole not much news came out. Google (GOOG) missed on earnings by a pretty wide margin. This was mainly due to a decline in revenue from their ad service.
Financial stocks continued to pour it on strong this earnings season, with Morgan Stanley (MS) reporting a very strong beat on their earnings. So far this earnings season, 75% of financial stocks have actually BEATEN their estimates, making a good case that the financial sector is coming on strong.
Bernanke made more comments today, who stated that the Fed's plans for winding down the stimulus were "not set in stone." Basically this is a re-iteration of what he said before, that the Fed plans on ending Quantitative Easing, but will do so with discretion so as to not cause a panic in the markets.
Finally, the city of Detroit officially declared Chapter 9 Bankruptcy today. This makes Detroit the largest city in history to ever declare bankruptcy. I mean come on, who didn't see this coming like 5 years ago? I pretty much knew this would happen, I just didn't think it would take this long to happen.
Oh, and for the BMY chart ;) lol
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