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More gloom from Bernanke could light up stocks
Sadly, it’s a gloomy Ben Bernanke that makes risk markets happy, and traders will be watching the Fed chairman again Wednesday to see if he sounds just as dour in a second day of Congressional testimony. Stocks rallied Tuesday, after initially selling off when Bernanke failed to say anything definitive about more Fed easing during testimony before the Senate Banking committee. But stocks reversed course and the Dow ended the day 78 points higher at 12,805. The S&P 500 was up 10 at 1,363. “He was so downbeat about the economy that everybody said he’s going to have to come back with something,” said Art ... (full story)
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