Dow Rises 92 on Bernanke Comments

Fed chief says he's in no rush to raise interest rates
By Nick McMaster,  Newser Staff
Posted Feb 24, 2010 3:21 PM CST
Traders work on the floor of the New York Stock Exchange Wednesday, Feb. 24, 2010.   (AP Photo/Richard Drew)

(Newser) – Stocks posted solid gains after Ben Bernanke assured traders that a recent increase in the discount rate did not mean that the Fed would raise the benchmark funds rate—which has the strongest influence on commercial lending rates—anytime soon, the Wall Street Journal reports.

  • The Dow gained 92 points to close at 10,374.
  • The Nasdaq added 22 points, closing at 2,236.
  • The S&P 500 gained 11 points to settle at 1,105.

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