Summers, Syria Raise Stocks (Bloomberg)
Easing tensions regarding Syria and Lawrence Summers’s withdrawal of his candidacy for the next chair of the Federal Reserve led the S&P 500 to a five-week peak. ???I don???t think the market knew what kind of a Fed chairman Summers would be, and having him out of the running makes things look a lot more certain,??? Colleen Supran, a principal of Bingham, Osborn & Scarborough in San Francisco, said. ???This tapering announcement that???s expected for Wednesday seems to be accepted by the markets. It???s probably going to be modest.???