Bernanke Offers Reassurance, Stocks Surge

NEW YORK (July 11, 2013)—Stocks closed at record highs Thursday after Federal Reserve Chairman Ben Bernanke said the central bank would continue to support the U.S. economy.

The Dow Jones industrial average rose 169 points, or 1.1 percent, to close at 15,461 Thursday.

The Standard & Poor's 500 index rose 22 points, or 1.4 percent, to end at 1,675.

Both the Dow and the S&P surpassed their record closes set in May.

The tech-dominated Nasdaq composite rose 57 points, or 1.6 percent, to end 3,578.

Investors also bought bonds Bernanke offer assurance that the Fed was not in a hurry to pull back on its huge bond-buying program.

The yield on the benchmark 10-year Treasury note fell to 2.57 percent from 2.63 percent late Wednesday.

As recently as early May, it was 1.63 percent.

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