A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK (AP) - Traders appear comforted by some soothing words from the Federal Reserve chairman. Ben Bernanke said yesterday that the central bank had no firm timetable for cutting back on its bond purchases and that pushed the stock market slightly higher.
Better earnings for several major companies also helped. The Dow Jones industrial average rose 18 ½ points, or 0.1 percent, to 15,470. The S&P 500 climbed 4 ½ points, or 0.3 percent, to 1,680. And the Nasdaq composite rose 11 1/2 points, or 0.3 percent.