MarketWatch - 6 minutes agoLONDON (MarketWatch) -- European stock markets reversed and turned higher in afternoon action on Wednesday, after U.S. Federal Reserve Chairman Ben Bernanke said that ending the bank's loose policy stance now could slow or end the economic recovery. Bernanke's comments came as investors worried the Fed was considering tapering off its $85-billion-a-month bond-purchase program and calmed fears of an imminent exit of the easing program. The Stoxx Europe 600 index rose 0.2% to 310.54, after trading as low as 307.94 ahead of the comments. The U.K.'s FTSE 100 index climbed 0.7% to 6,853.80, while France's CAC 40 index added 0.4% to 4,053.76. Germany's DAX 30 index rose 1% to 8,555.31.
MarketWatch - 6 minutes agoH-P is expected to post a drop in sales and earnings on Wednesday afternoon. But investors have pushed the stock up more than 70% in the last six months, betting on a turnaround.
MarketWatch - 7 minutes agoNEW YORK (MarketWatch) -- U.S. stocks added to their early gains Wednesday after Federal Reserve Chairman Ben Bernanke began testifying before lawmakers and April existing-home sales roughly matched expectations. Bernanke warned that premature tightening could strangle the economic recovery, putting a damper on worries the central bank will taper its bond-buying program soon. The Dow Jones Industrial Average rose 112 points to 15,499, while the Standard & Poor's 500 Index gained 14 points to 1,683. The Nasdaq Composite moved up 24 points to 3,527.
MarketWatch - 9 minutes agoLuxury retailer Saks extends its rally on Wednesday on a New York Post report that it hired Goldman Sachs to explore strategic alternatives, including a sale.
Briefing.com - 10 minutes agoThe morning advance is broad based with leadership (outperforming the S&P) coming from: Gold Miners GDX, Steel SLX, Gold GLD, Silver SLV, Casino, Finance XLF, Bank KBE, Reg Bank KRE, Biotech IBB, Housing XHB, Health XLV.
MarketWatch - 10 minutes agoExisting-home sales rose in April to hit the highest rate since November 2009, pointing to an ongoing recovery supported by low interest rates and pent-up demand, according to data released Wednesday.
MarketWatch - 12 minutes agoSAN FRANCISCO (MarketWatch) -- Gold futures gained more ground Wednesday, while oil futures pared some of their losses after Federal Reserve Chairman Ben Bernanke warned that ending the central bank's easy policy stance would not return the economy to sustainable growth. Dollar-denominated commodities have benefitted from the Fed's easy monetary policy. June gold was at $1,401.50 an ounce, up $24.30, or 1.8%, on the Comex division of the New York Mercantile Exchange. It was trading around $1,384 shortly before Bernanke's testimony to Congress. July crude oil traded at $95.44 a barrel on Nymex, down 74 cents, or 0.8%.
MarketWatch - 13 minutes agoNEW YORK (MarketWatch) -- Treasurys took Fed Chairman Ben Bernanke's statement to Congress Wednesday as a positive sign, sending prices up and yields down. The 10-year note yield fell 3 basis points on the day to 1.901%, while the 30-year bond yield fell 3.5 basis points to 3.097% and the 5-year note yield fell 3.5 basis points to 0.787%. Bernanke will read the statement and answer questions shortly.
MarketWatch - 13 minutes agoNEW YORK (MarketWatch) -- The U.S. dollar extended losses on Wednesday as Federal Reserve Chairman Ben Bernanke said ending quantitative easing right now wouldn't lead to sustainable economic growth. "A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further," Bernanke said. The ICE Dollar Index, a measure of the greenback's moves against six other major currencies, fell to 83.487 in the wake of Bernanke's embargoed statement. It was 83.794 ahead of the statement.
Briefing.com - 13 minutes agoSecondary levels noted in The Technical Take have been probed in recent trade at 1678/1680 S&P (session high 1679), 3516/3523 Nasdaq Comp (session high 3522) and 15485/15500 Dow (session high 15481).
