Stocks soar as investors cheer Yellen
Source: CNN Money ( via wsbt.com )
NEW YORK (CNNMoney) -
Stocks got a boost Tuesday as new Fed chairwoman Janet Yellen stressed that monetary policy is unlikely to change much under her leadership. Investors clearly liked what they heard.
The Dow rose over 190 points and briefly crossed the 16,000 mark for the first time since January 24. The S&P 500 and Nasdaq advanced more than 1%. The rally picked up steam during Yellen's question and answer session with lawmakers.
Tuesday marked the Dow's fourth straight up day. The blue chip index has clawed back from a few weeks ago, but is still down 3.5% this year.
But thanks to Tuesday's rally, the S&P 500 is now less than 2% below its all-time high. And the Nasdaq inched into positive territory for 2014.
Yellen testified before the House Financial Services Committee. It was her first appearance since taking the helm of the central bank earlier this month.
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Read more: http://www.wsbt.com/news/business/Stocks-soar-as-investors-cheer-Yellen/24408758
Kelvin Mace
(17,469 posts)but I will reserve judgment.
OKNancy
(41,832 posts)But I have my IRA in mutual funds so obviously I want a healthy market.
1StrongBlackMan
(31,849 posts)Thank you.
Kelvin Mace
(17,469 posts)which means that I want someone riding heard on the crooks on Wall Street.
Again, I'll reserve judgment for now.
Left Coast2020
(2,397 posts)Can she do something to get more people working?
Response to Left Coast2020 (Reply #4)
bucolic_frolic This message was self-deleted by its author.
yellowcanine
(35,703 posts)My take is that there was a correction and now stocks are rebounding somewhat. A correction of the correction.