- French soldier stabbed while on patrol near Paris
- REPEAT-Will immigration reform get killed in Republican-led U.S. House?
- Planetary alignment peaks with celestial show this weekend
- Rockets hit south Beirut after Hezbollah vows Syria victory
- Two believed dead as heavy rains flood San Antonio streets |
US SMALL/MIDCAPS-Stocks rise on Bernanke comments
NEW YORK |
NEW YORK Aug 31 (Reuters) - Small- and mid-capitalization stocks rose on Friday as comments by Federal Reserve Chairman Ben Bernanke kept alive hopes of the U.S. central bank providing further stimulus for the economy.
In his speech in Jackson Hole, Bernanke expressed "grave concern" for the stagnating U.S. job market, though he gave no specifics about further monetary easing.
The S&P MidCap 400 index was up 0.5 percent while the S&P SmallCap 600 index up 0.3 percent. In comparison, the benchmark S&P 500 was up 0.5 percent.
Economically sensitive materials shares were among the biggest gainers, including Royal Gold, up 4.6 percent at $88.02. Gold prices rose to a five-month high after Bernanke's speech.
Among other gainers for the day, shares of Esterline Technologies were up 13 percent at $59.80. The company reported quarterly results that missed analysts estimates, but forecast a rise in fourth-quarter and full-year earnings.
- Tweet this
- Share this
- Digg this