Stocks Rally Into the Close, Bolstered By Dovish Yellen Comments to Schumer
Stocks are moving to the highs into the close, apparently bolstered by comments by Fed Chairman Janet Yellen to Chuck Schumer. According to Schumer, she told Democrats there will be no immediate rate hike.
While it is unclear what the thought process is for traders, the comments could suggest that Yellen will keep her dovish view in light of yesterday's more hawkish Fed statement which included comments like "solid" and "strong" when describing the economy and jobs.
The Dow is up 225 and the S&P 500 is up 20.
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