The stock market rose for the first time this week as investors cautiously weighed President Barack Obama's speech today about how his administration plans to reform the nation's financial regulatory system.
The White House released the text of Obama's remarks today ahead of the speech.
"We are seeking to build an energy economy that creates new jobs and new businesses to free us from our dependence on foreign oil; to foster an education system that instills in each generation the capacity to turn ideas into innovations, and innovations into industries; and, as I discussed on Monday at the American Medical Association, to reform our health care system so that we can remain healthy and competitive. This new foundation also requires strong, vibrant financial markets, operating under transparent, fairly-administered rules of the road that protect America's consumers and our economy from the devastating breakdown we've witnessed in recent years," the speech stated.
The largest local gainers in the BizTimes Stock Index this morning were Badger Meter Inc. (up $3.74 to $43.07) and Actuant Corp. (up $1.19 to $14.38). The largest local decliners this morning were Rockwell Automation Inc. (down 85 cents to $30.22) and Joy Global Inc. (down 74 cents to $35.67).
Wall Street takes measure of Obama's new financial reforms
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