Bernanke Speech: Will It Be Enough To Save The Market?

The market was eagerly waiting for the Bernanke speech today, hoping that the Fed would provide some help to the market during this credit crunch.

In the Bernanke speech, he said that the Fed was “prepared to act” but did not go into much more detail than that.

The Bernanke speech certainly helped the market today, as the DOW is currently at 13,379.85 up 141.12 (1.07%). The NASDAQ is at 2,590.74 for a gain of 25.44 (0.99%) and the S&P 500 is at 1,474.65an increase of 17.01(1.17%).

Although the Bernanke speech may have worked today, it may take more to support the market in the longer term, as Sam Kirtley of The Gold Prices Newsletter told us earlier today.

Do you the occasional Bernanke speech will be enough to save the financial markets?

Or is the Bernanke speech not enough? Is real action, such as an interest rate cut needed?