Daniel Gross

Morning Reading: Romney, Bernanke, and the Dow

What to watch, courtesy of Yahoo! Finance's Elizabeth Trotta:

- Dow 13,000: Dow closed above 13,000 and a new all-time high is just 1160 points away.
-Romney: Narrowly won the Republican presidential primary in Michigan, propelled by the oldest and wealthiest voters.
-Bernanke: Wall Street will be watching the Fed Chairman Ben Bernanke over the next two days for any signs of distancing himself from the central bank's pledge to keep rates at ultra-low levels for up to three years.
-Gold for oil: Iran's state news agency said that it's prepared to accept gold instead of dollars for payment for its oil.
- Facebook: Company is still "in the very early beginnings," said Eduardo Saverin, one of the four co-founders of Facebook, despite some analysts saying the social network had peaked.
- Apple: At $500B, Apple is worth more than Poland.
- Insider Trading: David Loeb, a Goldman managing director who acts as a middleman between the Wall Street firm and some of its most important hedge-fund clients, is the latest Goldman official to be investigated in the insider-trading probe, WSJ reports.
- Housing: Mortgage applications jumped last week
-Easier Money: U.S. banks posted their biggest quarterly increase in lending in four years, offering reason for optimism that the economic rebound is picking up steam.
- Main Street's $100B Stock Market Blunder: Arends says the market may be back to pre-crisis levels, but many regular investors missed out.
- Economic Data: MBA Mortgage Index, GDP, Chicago PMI, Crude Inventories, Fed's Beige Book today
- PIMCO Defense: Pimco's Bill Gross says his defensive strategy is to emphasize relatively reliable and safe income, eschew derivatives that are fully valued and potentially volatile, and select securities that earn higher-than-market returns, which still will be less than past returns.

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