Stocks soar as investors cheer Yellen

[OKNancy]

Source: CNN Money ( via wsbt.com )

NEW YORK (CNNMoney) -
Stocks got a boost Tuesday as new Fed chairwoman Janet Yellen stressed that monetary policy is unlikely to change much under her leadership. Investors clearly liked what they heard.

The Dow rose over 190 points and briefly crossed the 16,000 mark for the first time since January 24. The S&P 500 and Nasdaq advanced more than 1%. The rally picked up steam during Yellen's question and answer session with lawmakers.
Tuesday marked the Dow's fourth straight up day. The blue chip index has clawed back from a few weeks ago, but is still down 3.5% this year.

But thanks to Tuesday's rally, the S&P 500 is now less than 2% below its all-time high. And the Nasdaq inched into positive territory for 2014.

Yellen testified before the House Financial Services Committee. It was her first appearance since taking the helm of the central bank earlier this month.

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Read more: http://www.wsbt.com/news/business/Stocks-soar-as-investors-cheer-Yellen/24408758

[Kelvin Mace]

1. OK, generally not a good sign if Wall Street is cheering for you,

but I will reserve judgment.

[OKNancy]

2. I'm cheering for her.

But I have my IRA in mutual funds so obviously I want a healthy market.

[1StrongBlackMan]

3. +1 ...

Thank you.

[Kelvin Mace]

6. I want a heathy market too

which means that I want someone riding heard on the crooks on Wall Street.

Again, I'll reserve judgment for now.

[Left Coast2020]

4. So what was all the glee about her appointment?

Can she do something to get more people working?

[yellowcanine]

7. Well some investors may have cheered and stocks did soar but the two are not necessarily connected.

My take is that there was a correction and now stocks are rebounding somewhat. A correction of the correction.