FXstreet.com (San Francisco) - U.S. stocks bounced and ended higher as investors reacted to testimony from Fed chairman Ben Bernanke on Tuesday, which he did not rule out new stimulus.
Bernanke reiterated the Fed's stance that it remains prepared to act, but there are concerns that additional easing will not address the nation’s “Fiscal Cliff” issue, where Bush-era tax cuts may or may not be extended before expiration at year-end.
The Dow Jones Industrial Average climbed 78.33 points, or 0.6%, to 12,805.54. The S&P 500 index rose 10.03 points, or 0.7%, to 1,363.67. The Nasdaq Composite edged up 13.1 points, or 0.5%, to 2,910.04.
Bernanke reiterated the Fed's stance that it remains prepared to act, but there are concerns that additional easing will not address the nation’s “Fiscal Cliff” issue, where Bush-era tax cuts may or may not be extended before expiration at year-end.
The Dow Jones Industrial Average climbed 78.33 points, or 0.6%, to 12,805.54. The S&P 500 index rose 10.03 points, or 0.7%, to 1,363.67. The Nasdaq Composite edged up 13.1 points, or 0.5%, to 2,910.04.
