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11 Feb 2014
Wall Street closed; Stocks perform best on the year on Yellen
FXStreet (Guatemala) - Wall Street closed with U.S stocks performing the longest winning streaks of the year as the New Federal Reserve Chair, Janet Yellen, explained the Central bank will continue it’s tapering as the economy strengthens.
Among stocks that performed was Sprint Corp which jumped 2.6 percent after posting fourth-quarter revenue that came in stronger than analysts’ estimates. Cliffs Natural Resources Inc. and Mosaic Co. came in more than 2.4 percent and CVS Caremark Corp. climbed 2.8 percent also.
Yellen: “I am committed to achieving both parts of our dual mandate: helping the economy return to full employment and returning inflation to 2 percent while ensuring that it does not run persistently above or below that level,” she said.
However, the markets, including the US dollar, were indeed mixed on some of her commentary. Her statements caused some alarm in the words around, deteriorating outlook for job market or serious concerns over too-low inflation could cause shift in policy, and a pause would be considered if notable change in the outlook.
Among stocks that performed was Sprint Corp which jumped 2.6 percent after posting fourth-quarter revenue that came in stronger than analysts’ estimates. Cliffs Natural Resources Inc. and Mosaic Co. came in more than 2.4 percent and CVS Caremark Corp. climbed 2.8 percent also.
Yellen: “I am committed to achieving both parts of our dual mandate: helping the economy return to full employment and returning inflation to 2 percent while ensuring that it does not run persistently above or below that level,” she said.
However, the markets, including the US dollar, were indeed mixed on some of her commentary. Her statements caused some alarm in the words around, deteriorating outlook for job market or serious concerns over too-low inflation could cause shift in policy, and a pause would be considered if notable change in the outlook.