U.S. equities recouped $1 trillion of share value that was erased in the last seven weeks, as Federal Reserve Chairman Ben S. Bernanke pledged to preserve stimulus and stocks rallied on signs of economic expansion.
U.S. stocks and commodities rallied and the Dollar Index fell for the third time in four days amid speculation the Federal Reserve will maintain its pace of monetary stimulus until economic growth picks up.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing earlier losses, after Federal Reserve Bank of Atlanta President Dennis Lockhart said central bank officials are committed to record stimulus measures.
U.S. stocks rose, reversing early losses, as consumer confidence increased and manufacturing grew at the fastest pace since June 2011, easing concern about the economy as $85 billion of federal spending cuts were set to begin. Commodities fell and the pound and euro slumped.
While Republicans promote themselves as the friendliest party for Wall Street, stock investors do better when Democrats occupy the White House. From a dollars- and-cents standpoint, it’s not even close.