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Market recap: Stocks closed modestly higher (Nasdaq hits 13-year high) after trading in positive...

Market recap: Stocks closed modestly higher (Nasdaq hits 13-year high) after trading in positive territory for most of the session following generally dovish interpretations of Bernanke's testimony on Capitol Hill. The Chairman reiterated the need for accommodative policy and even dropped the "D" word at one point. Bank of America topped estimates, Caterpillar slid on a very unwelcome Jim Chanos short call, Abbott turned in a mixed quarter, DuPont got a lift from Nelson Peltz chatter, and Yahoo soared following Tuesday evening's Q2 report. Housing starts missed expectations and gold fell (John Paulson isn't worried).
Comments (2)
  • Amber Li
    , contributor
    Comments (27) | Send Message
     
    Good news for US equity investors that Bernanke maintains his dovish position, while in China, regulators are reluctant to roll out more stimulus.

     

    I read the top news on DZH News Thursday morning. It quoted the head of the Ministry of Finance of China, saying the country will not adopt massive fiscal stimulus but there will be fine tuning such as tax cuts for micro and small enterprises to boost growth and employment.
    17 Jul 2013, 09:48 PM Reply Like
  • Jessica Sun
    , contributor
    Comments (17) | Send Message
     
    Tax cuts for micro and small enterprises? Good news for them! Thank you for sharing DZH News.
    17 Jul 2013, 09:58 PM Reply Like
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