This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Street Shrugs at Bernanke

Fed Chairman Ben Bernanke gave another speech today, and Wall Street simply shrugged, ending the day ever so slightly in the red.

The Dow Jones Industrial Average slipped 0.02% Thursday to close at 11,381.15, while the S&P 500 slipped 0.04% on the day to 1303.81. The Nasdaq Composite ended down 0.09% to close the day at 2183.75. The Treasury market continued to rally, as the 10-year note added 5/32 to yield a new five-month low, 4.73%

Bernanke did not reveal clues about future policy decisions, which only fueled Wall Street's growing belief that the Fed is done raising interest rates and the economy is not falling off the proverbial cliff. Indeed, some say things may not even be as bad in the much-maligned housing sector as many contend.

What Gentle Ben did say before a business leadership group in Greenville, S.C., supports his belief that the economy is headed for a soft landing with only modest inflation. Much like the traders on Wall Street, the Fed chief shrugged off a recent downward revision in productivity figures, saying the nation's workforce appears as industrious as ever.

"A case can be made that the strong productivity growth of the post-1995 era is likely to continue for some time," he says, adding that he expects productivity to continue to rise at an average pace of 2.5%.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.36 +19.20 0.96%
NASDAQ 4,681.9420 +43.9480 0.95%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs