Markets are rallying and you can pick your reason why with the best of any so-called expert.
But could it be that investors are following the adage to buy on the rumor and sell on the news? The rumor is that Fed chairman Ben Bernanke will use his speech in Jackson Hole, Wyo., on Friday to sketch out what the central bank might do to save the financial world from itself again.
However, that's not what those who follow the Fed closely believe will happen. So where does that leave us? Can Bernanke's speech meet the expectations being set for it?
Merck & Co. named a new president for its Merck Animal Health business unit. As of Sept. 15, Richard DeLuca will succeed Raul Kohan, who is retiring. A Widener University grad, DeLuca, 48, is a former president of Wyeth's Fort Dodge Animal Health division.