NEW YORK - Stocks rose 1 percent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low and Yahoo rallied. | Video
Recent Business News
- Fiat Chrysler Automobiles will announce an agreement by the end of April to allow production of Jeep models in China, the head of the Jeep brand, Mike Manley, said on Wednesday.
- General Motors Co said it would ask a U.S. court to bar lawsuits related to actions before its 2009 bankruptcy, signaling a tougher stance toward legal claims stemming from its recent recall over faulty ignition switches.
- Bank of America Corp's financial crisis hangover is lasting longer than expected, leading some investors to wonder if the massive litigation expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.
NEW YORK - Citigroup Inc , which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis.
The housing recovery continues, albeit modestly. The S&P/Case-Shiller composite index of house prices in 20 metro areas rose 0.8% in January (seasonally adjusted), according to a report released yesterday.