YEREVAN, June 14. /ARKA/. U.S. stocks rallied Thursday, with equities picking up steam after The Wall Street Journal reported on the Federal Reserve’s monetary policy.
“There’s a Wall Street Journal report about the Fed not likely to do anything at this meeting,” said Dan Greenhaus, chief global strategist at BTIG LLC of the Jon Hilsenrath story, which said Fed Chairman Ben Bernanke would likely reiterate the Fed expects a “considerable” amount of time to pass between ending the central bank’s bond-buying program and raising short-term rates at a news conference next week.
The Dow Jones Industrial Average DJIA +1.21% rose 180.85 points to 15,176.08. The S&P 500 index SPX +1.48% added 23.84 points to 1,636.36. The Nasdaq Composite COMP +1.32% gained 44.94 points to 3,445.36. –0–
