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Finance Latest News: Stocks Surge After Bernanke Allays Taper Fear

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Finance Latest News: Stocks Surge After Bernanke Allays Taper Fear

Finance Latest News: Stocks Surge After Bernanke Allays Taper Fear
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Finance Latest News: Stocks Surge After Bernanke Allays Taper Fear

by Wochit 0:57 mins

Call it the Bernanke Boost. The stock market, which has been marching higher for a week, got extra fuel after Federal Reserve Chairman Ben Bernanke said the central bank will keep supporting the economy. For the second quarter, S&P 500 earnings are expected to grow just 2.6 percent, according to Wall Street analysts estimates compiled by Thomson Reuters. But projections for third-quarter earnings growth, on the other hand, are seen at 8.4 percent, with fourth-quarter growth seen at 12.8 percent. Both the Dow and the S&P 500 set new closing highs in the wake of Ben Bernanke's latest remarks. The indexes soared over 1% following the Fed chair's comments on quantitative easing.

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