U.S. Stocks Climb to Records on Rate Bets After Yellen Comments
How Investors Are Interpreting Yellen's Remarks
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U.S. stocks rose, sending benchmark gauges to records, after Federal Reserve Chair Janet Yellen indicated an increase in interest rates is unlikely before mid-year as inflation and wage growth remain too low.
The Standard & Poor’s 500 Index rose 0.3 percent to a record 2,115.48 at 4 p.m. in New York. The Dow Jones Industrial Average gained 92.35 points, or 0.5 percent, to 18,209.19, as Home Depot Inc. and JPMorgan Chase & Co. rallied. The Nasdaq Composite Index added 0.1 percent, climbing for a 10th straight day to bring it within 1.6 percent of its 2000 record. About 6.1 billion shares changed hands on U.S. exchanges, 11 percent below the three-month average.