Bernanke Comments Lift Stocks
Wall Street rebounded from Monday's severe losses- posting solid gains after Federal Reserve Chairman Ben Bernanke defended the FOMC's bond buying stimulus in his semi- annual testimony to congress- and expressed optimism about the financial markets. "I don't see much evidence of an equity bubble. Earnings are very high as I said the equity risk premium is above normal. That is in other words pricing is- equity holders are still being somewhat risk averse in their behavior. "
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