Here is a recap of the tops new items from this week on Wall Street:

1. President Obama nominated Fed Chairman Ben Bernanke to another term at the position, confirming what had been a hotly-debated topic over the last few weeks. While not all traders necessarily like the work Bernanke has done through the financial crisis, most agree that electing a new Chairman, at this time, would be worse for Wall Street.

2. Stocks jumped Tuesday on much better-than-expected home price data from S&P/CaseShiller: the reading for June came in at 141.86, or down 14.92% during the quarter, which compared to the