Fed chairman Ben Bernanke finished the first of two days’ testimony before committees of Congress. The House unsurprisingly got no major revelations as he reiterated the positions he has taken before. The quote from Bloomberg is that the bond buying program is “by no means on a preset course.” This seems to have been both vague and specific enough to reassure the stock markets, especially in combination with the news from London and the positive earnings from Bank of America and Yahoo. Click below for more details. We’ll be following up on this today and tomorrow.
U.S. Stocks Rise as Investors Weigh Bernanke Testimony – Bloomberg.
