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Stocks open higher after Bernanke reappointment

Stocks open higher after Bernanke reappointment

Stocks are moderately higher after President Barack Obama announced the reappointment of Ben Bernanke to a second four-year term as Federal Reserve chairman.
The reappointment of Bernanke as Fed chief was expected, but came sooner than anticipated. Analysts say the decision means the Fed can smoothly carry out Bernanke's aggressive moves to limit the damage from the financial crisis.
Meanwhile, a closely watched index shows home prices posted their first quarterly increase in three years, yet another sign that the housing market has turned the corner.
Investors are also awaiting the Conference Board's report on consumer confidence.
The Dow Jones industrials are up 28 at 9,537. The Standard & Poor's 500 index is up 3 at 1,028, while the Nasdaq composite index is up 4 at 2,022.


Updated : 2021-07-28 23:03 GMT+08:00