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More Bernanke Testimony and Earnings Reports
The testimony from Fed chairman Ben Bernanke continues in the Senate today. His opening remarks will be unchanged from yesterday’s testimony to the House, but a new Q&A could push markets in either direction if the chairman offers any surprises.
Bernanke Testifies in Biannual Policy Meeting
In anticipation of Federal Reserve chairman Ben Bernanke’s biannual testimony to Congress, markets are poised to begin the Tuesday session looking up. The bondholder rescue of CIT Group has also boosted sentiment, and yesterday’s upgraded forecast from Goldman Sachs on the S&P 500 hasn’t hurt either.
Mid-Day Recap: S&P at Highest Level Since November
Markets opened higher Monday morning following a five-day rally in the major indexes last week. The S&P 500 has now gained 39.5% since its nadir in early March, pushing the index to its highest level since November.rnrnThree hours into the Monday session the S&P 500 is trading 0.75% higher at 947, while the Dow has climbed 0.81% to 8814, and the NASDAQ is up 0.83% to 1902.
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