Markets are heading higher again today.
The S&P 500 is at 1,670, up 17 points for the day.
The S&P 500 closed at an all-time high of 1,669.1 on May 21, 2013. It got as high as 1,674.9 that day.
All of this comes after the dovish tone from Federal Reserve Chairman Ben Bernanke yesterday afternoon.
During a Q&A following a speech in Massachusetts yesterday, the Chairman clarified that that even though the Fed may begin tapering its quantitative easing program soon, interest rates will still be pinned at current ultra-low levels for a long time. He also noted that the unemployment rate – a key indicator that will determine the future path of Fed monetary policy – probably understates the weakness in the U.S. labour market.
Immediately after these comments, U.S. stock market futures soared and the dollar fell.
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