Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Stocks Volatile after Bernanke Speaks

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Stocks Volatile after Bernanke Speaks

Article excerpt

It took a while, but investors eventually decided they liked what they heard from Ben Bernanke, and stock indexes rose enough on Friday to put them into positive territory for August.

Stocks gyrated after the Federal Reserve chairman spoke Friday morning. They first gave up their morning gains, then bolted to their highs for the day, before settling in-between.

The Dow Jones industrial average ended the day up 90.13 points at 13,090.84.

A half-hour after trading began, Mr. Bernanke declared that the Fed is ready to take more action to help an economy that's "far from satisfactory."

Investors have been watching to see whether the Fed will buy more bonds to further lower long-term interest rates. Stocks fell initially, however, after it became clear that no such announcement was coming Friday and that Mr. Bernanke had stopped short of committing the Fed to any specific move.

Still, he said the Fed "should not rule out" new policies to improve the job market. …

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