Dow closes above 11,000
Blue-chip gauge hits highest level in a month on falling crude prices, strong retail sales.NEW YORK (CNNMoney.com) - Stocks surged Tuesday, with the Dow closing above 11,000 for the first time in a month, as lower oil prices and a jump in retail sales helped quell worries about a slowdown in consumer spending.
The focus Wednesday turns to interest rates and the economy, with Federal Reserve Chairman Ben Bernanke due to testify before Congress. It will be his first public testimony as the new head of the central bank since replacing Alan Greenspan two weeks ago.
The new Fed chief is not expected to say anything so surprising tomorrow as to rattle the markets. Nonetheless, the fact that Bernanke represents something of an unknown after Greenspan's 18-1/2 year term has caused some jitters among investors, and his comments will be closely dissected.
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posted by SSY @ 9:59 PM
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