The following video is from Monday's edition of Investor Beat, in which host Chris Hill and analysts Jason Moser and Bill Barker dissect the hardest-hitting investing stories of the day.
Former Treasury Secretary Larry Summers, once the favorite to be the next head of the Federal Reserve, withdrew his name from consideration on Sunday, leaving Federal Reserve Vice Chairman Janet Yellen as the new favorite to replace Ben Bernanke. The markets reacted incredibly favorably to the news, with even unrelated stocks popping upwards. In our lead story on this Investor Beat, Jason and Bill discuss whether this paves the way for a brighter future for banking stocks and why this news trickled down into unrelated sectors.
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The article The Larry Summers Effect originally appeared on Fool.com.Bill Barker , Chris Hill, Jason Moser, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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