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S&P 500 Extends Record as Yellen Signals Stimulus Support

U.S. stocks rose today to extend records for benchmark indexes, as Janet Yellen, the nominee to become chairman of the Federal Reserve, spoke about the need to continue the Federal Reserve‚??s stimulus efforts.

S&P 500 Extends Record as Yellen Signals Stimulus Support (Bloomberg)

U.S. stocks rose today to extend records for benchmark indexes, as Janet Yellen, the nominee to become chairman of the Federal Reserve, spoke about the need to continue the Federal Reserve‚??s stimulus efforts. The Standard & Poor‚??s 500 Index rose 0.5 percent to a record 1,790.62 at 4 p.m. in New York. The Dow Jones Industrial Average (INDU) jumped 54.59 points, or 0.4 percent, to 15,876.22, also a record. The Nasdaq Composite Index gained 0.2 percent to reach its highest level since September 2000. One of today’s big gainers was PulteGroup Inc., which soared 4.9 percent as homebuilders rose. Office Depot Inc. gained 4.5 percent after Bank of America Corp. advised investors to buy the stock. Cisco fell 11 percent, causing a pullback among technology shares, after its profit forecast missed projections. Chris Versace, editor of the investment newsletter PowerTrend Profits, advised his subscribers in a special alert today to buy Cisco shares at its reduced price.

Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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S&P 500 Extends Record as Yellen Signals Stimulus Support

S&P 500 Extends Record as Yellen Signals Stimulus Support (Bloomberg)

U.S. stocks rose today to extend records for benchmark indexes, as Janet Yellen, the nominee to become chairman of the Federal Reserve, spoke about the need to continue the Federal Reserve‚Äôs stimulus efforts. The Standard & Poor‚Äôs 500 Index rose 0.5 percent to a record 1,790.62 at 4 p.m. in New York. The Dow Jones Industrial Average (INDU) jumped 54.59 points, or 0.4 percent, to 15,876.22, also a record. The Nasdaq Composite Index gained 0.2 percent to reach its highest level since September 2000. One of today’s big gainers was PulteGroup Inc., which soared 4.9 percent as homebuilders rose. Office Depot Inc. gained 4.5 percent after Bank of America Corp. advised investors to buy the stock. Cisco fell 11 percent, causing a pullback among technology shares, after its profit forecast missed projections. Chris Versace, editor of the investment newsletter PowerTrend Profits, advised his subscribers in a special alert today to buy Cisco shares at its reduced price.

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