Fed Chairman Ben Bernanke was the center focus for global market participants on Wednesday as he testified before the House Financial Services Committee about the state of the U.S. economy and the Fed's monetary policy.
Federal Reserve Chairman Ben Bernanke reassured lawmakers interest rates will remain low, driving stocks higher on Wednesday as investors welcomed the promise of more cheap money.
Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates for an extended period, dampening speculation a policy tightening might be nearing.
U.S. stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period to sustain the still-fragile recovery.
The U.S. dollar fell versus the euro and yen on Wednesday after comments by U.S. Federal Reserve chairman Ben Bernanke dampened speculation monetary policy tightening might be nearing. An unexpected plunge in new U.S. home sales last month further dampened investor sentiment and reinforced the low rates outlook. Analysts said the housing figures, combined with a drop in a consumer confidence reading on Tuesday, underscore the fragility of economic recovery.
The recent stock market rally continues on Wednesday as Fed Chairman Bernanke reiterates his promise to keep the fed funds rate low.
U.S. stocks advanced on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period to sustain the still fragile recovery.
Federal Reserve Chairman Ben Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates for an extended period, dampening speculation a policy tightening might be nearing.
In his semi-annual testimony before the House Financial Services Committee, Fed Chairman Ben Bernanke described the myriad of tools in the Fed's arsenal to withdraw liquidity.
U.S. stocks advanced on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period.
U.S. stocks extended gains on Wednesday, with the Dow and Nasdaq up more than 1 percent, as technology and financial shares advanced after Federal Reserve Chairman Ben Bernanke vowed to keep interest rates low to foster an economic recovery.
In his semi-annual testimony to the House Committee on Financial Services, Fed Chairman Ben Bernanke attributes poor credit conditions as a major factor in hindering key areas of the economy from recovery.
U.S. stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period.
Europe and U.S. stock indices edged up cautiously ahead of Fed Chairman Bernanke's semi-annual testimony on monetary policy and the state of the economy at 10:00 am EST.
U.S. stock index futures pointed to a slightly higher open on Wednesday as investors looked ahead to congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
U.S. stock index futures pointed to a slightly higher open on Wednesday as investors looked ahead to congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
Oil shed over 30 cents to near $78.50 on Wednesday as investors fretted over signs of weakness in any global recovery and waited for U.S. figures later for clearer indications on crude inventories and imports.
U.S. stock index futures rose on Wednesday as investors awaited congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
Ben Bernanke may have cleared the hurdles to his confirmation for a second term as Federal Reserve chairman, but that does not mean lawmakers will be any friendlier to him at high-profile hearings on Wednesday and Thursday.
U.S. stock index futures pointed slightly higher on Wednesday as investors awaited congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
U.S. stock index futures pointed higher on Wednesday as investors awaited congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
