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  • Fed Chair Janet Yellen: Economic recovery possible within two years

    Deirdre Hughes at Hot Stock Minute8 hrs ago

    The Dow (^DJI) gained 1.00% today, The Nasdaq (^IXIC) 1.29% and the S&P 500 (^GSPC) 1.05%. Federal Reserve Chair Janet Yellen, speaking to the Economic Club of New York, said a healthy economy could be reached within two years. Yellen said Federal Reserve governors and economists see a return to full employment and stable prices by the end of 2016.

    Yellen also said the longer it takes to reach the Fed’s targets for employment and inflation, the longer the Fed will hold the key Federal Funds Rate at its current level, near zero.

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  • Markets regain after midday slump and end in the green

    Dean Arrindell at Hot Stock Minute1 day ago

    Markets ended the day up slightly after recovering from a midday slump. The Dow (^DJI) ended the day up 0.55%. The Nasdaq (^IXIC) closed up 0.29%. And the S&P 500 (^GSPC) ended the day up 0.68%.

    Federal Reserve Chair Janet Yellen said banks may need to hold additional capital to weather financial stress. Speaking via video to an Atlanta banking conference, Yellen said additional capital could help make the banks more stable if another financial crisis occurred. She said stricter rules are possible, but they would likely only apply to the most complex banks. The Fed will conduct a review to see how stricter rules would affect banks.

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  • Stocks higher after a surge in retail sales and strong Citigroup earnings

    Deirdre Hughes at Hot Stock Minute2 days ago

    Stocks booked healthy gains on Monday to start the week after a brutal selloff at the end of last week. The Dow (^DJI) gained 0.9%, while the beaten down Nasdaq (^IXIC) was up nearly 0.6%, and the broader S&P 500 (^GSPC) climbed 0.8% to start the week. Retail sales for March showed consumers returned to buying once the winter thaw began. And Citigroup (C) turned in better-than-expected results for the first quarter, which was especially welcome news after JPMorgan’s (JPM) disappointing results on Friday.

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