FXB News & Analysis
Halftime Pt. 1: Bet Bullish Because Of Big Ben?
09 Jun 2010 EDT - CNBC.com
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Stocks jumped on Wednesday, driving the Dow back above the psychologically important 10,000 mark, after comments made by Ben Bernanke soothed investor jitters. Testifying before the House Budget Committee he said “The economy ... appears to be on track to continue to expand through this year and next."He also said the European debt crisis is likely to have only a "modest" impact on the U.S. economic recovery as long as Wall Street stabilizes.The rhetoric eased fears about the upcoming earnings season – investors are concerned it may be riddled with landmines due to weakness in Europe, high unemployment and weakness in the housing market.
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