Stocks sag as the Fed chairman says a stronger economy may let the central bank start to end its bond-buying program late this year. But Bernanke sees low rates lasting into 2015.
The Dow jumps nearly 140 points ahead of a big Federal Reserve decision on interest rates. Crude oil closes above $98.
The Dow jumps 109 points after rising as many as 191. Oil-price jitters and rising rates trim gains. Those factors and the Fed may weigh on markets Tuesday.
The central bank meets to discuss interest rates and the economy. And everyone hopes they do a better job of explaining their policy.
The blue chips jump 181 after reports on jobless claims and retail sales cheer investors. Friday brings reports on consumer confidence and options expirations.
The markets have had a tough 3 days, with the S&P 500 shedding close to 2% on the back of ongoing concerns about the pace of bond buying by global central banks.
After falling for three straight days, stocks need a reason to move up. A decent jobless claims report could help. So could a benign day for interest rates.
As the economy improves, investors will look beyond the defensive stocks that found favor earlier in the year.
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