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US STOCKS-Wall St extends gains after Bernanke comments
Fri Aug 22, 2008 10:18am EDT
(Updates with reaction to Bernanke comments)
NEW YORK, Aug 22 (Reuters) - U.S. stocks added to gains on Friday after Federal Reserve Chairman Ben Bernanke said the recent decline in commodity prices and stabilization of the U.S. dollar were encouraging. For details, see [ID:nWEQ000126].
The Dow Jones industrial average .DJI rose 143.30 points, or 1.25 percent, to 11,573.51. The Standard & Poor's 500 Index .SPX shot up 11.82 points, or 0.93 percent, to 1,289.54. The Nasdaq Composite Index .IXIC climbed 24.66 points, or 1.04 percent, to 2,405.04.
The market was already broadly higher before Bernanke's speech at the Federal Reserve Bank of Kansas City Economic Symposium in Jackson Hole, Wyoming.
Expectations of an investment in U.S. bank Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) underpinned an advance in shares of financial services companies.
Shares of No. 3 U.S. bank, JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz), more than 4 percent to $38.06.
A decline in oil prices boosted shares of big manufacturers, including United Technologies (UTX.N: Quote, Profile, Research, Stock Buzz) , airlines and consumer-oriented companies. Shares of major technology companies were another standout. United Tech was up 1.8 percent to $65.38. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
U.S. dollar trims gains vs euro after Bernanke comments
Fri Aug 22, 2008 10:19am EDT
NEW YORK (Reuters) - The U.S. dollar trimmed gains against the euro on Friday after Federal Reserve Chairman Ben Bernanke said a stable currency and a decline in commodity prices should help slow inflation this year and next.
His remarks pared back expectations of an U.S. interest rate increase this year, diminishing the dollar's appeal to global investors.
The euro rose as high as $1.4835 against the dollar from $1.4815 before Bernanke's remarks. Against the yen, the dollar held gains at 109.97 yen.
Bernanke spoke at an annual symposium in Jackson Hole, Wyoming.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Oatis)
Shouldn't that be -$0.0769? -$0.769 is scary! Please ...another zero!EAFE estimate up +$0.0431
plus FV Monday (previous) of +$0.0000 = +$0.0431
minus FV Monday (guess) of -$0.1200 = -$0.769
dollar down 0.04% = 76.71
Shouldn't that be -$0.0769? -$0.769 is scary! Please ...another zero!
Thank you for the updates EVERY day!