Upbeat Bernanke boosts Dow

clock

The Dow Jones hit a fresh year high this morning after Federal Reserve chairman Ben Bernanke said the US economy is nearing recovery.

Shortly after opening, the index had climbed more than 58 points, or 0.61%, to 9,564.15. Bank of America Corp gained 1.55% to $17.73 after electing former Morgan Stanley executive Robert Scully to the newly-replenished board, which has suffered a plethora of resignations since April. American Express Inc added 2.89% to $33.8, while Caterpillar is up 3.38% to $48.9. However, Kraft Foods Inc and McDonald's Corp shed 0.94% to $28.54 and 0.23% to $56.13 respectively. In the UK, the FTSE pulled back from the 4,900 mark but is still up more than 31 points, or 0.65%, to 4,882.53.   ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation falls to 3% to give BoE 'green light' for rate cut

UK inflation falls to 3% to give BoE 'green light' for rate cut

In line with expectations

Michael Nelson
clock 18 February 2026 • 2 min read
Interest rate cuts expected after UK GDP edges up 0.1%

Interest rate cuts expected after UK GDP edges up 0.1%

Construction output lowest since 2021

Patrick Brusnahan
clock 12 February 2026 • 2 min read
Leaked Budget document viewed almost 25,000 times ahead of speech

Leaked Budget document viewed almost 25,000 times ahead of speech

Office for Budget Responsibility chair Richard Hughes quit as a result

Jenna Brown
clock 11 February 2026 • 2 min read