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Markets Rally on Bernanke’s Comments (YHOO, AXP) – March 26, 2012

By: , dated March 26th, 2012
After Federal Reserve Chairman Ben Bernanke commented that an accommodative monetary policy is still a necessity, major indices jumped by over 1 percent, with the S&P 500 reaching towards its highest level since May of 2008. Pending home sales were down 0.5 percent month over month in February, but were up 9 percent year over year. In corporate news, Yahoo (YHOO) appointed three new members to its board, as it continues its ongoing struggle to regain profitability. American Express (AXP) announced that it would be raising dividends by 11 percent, the first increase since 2007.

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