Stocks Mostly Higher at Close, Helped by Yellen Nomination, Fed Minutes

By Staff,

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Stocks closed mostly higher Wednesday, building on small, mid-day gains supported by optimism new Federal Reserve Chairwoman-designate Janet Yellen will continue the central bank's monetary stimulus for the U.S. economy. Markets also responded positively to this afternoon's release of minutes from the Fed's Sept. 18-19 policy-setting meeting, indicating voting members on Federal Open Markets Committee chose to keep their massive bond-buying program in place largely because of the uncertainty resulting from a Congressional standoff over the federal budget and debt.

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This article appears in: Investing Commodities
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