7/17/12 2:54 PM – Markets Up on Bernanke Testimony?

US stocks were up nicely today afte being down earlier this morning. Currently, the S&P 50 is up 0.75% today.

Ben Bernanke had testimony before Congress where he delivered a rather downbeat statement on the economy. But, some are relieved that he didn’t address any more easing measures. On the face of it that sounds bad but he didn’t say he wouldn’t do any further easing either. That leaves the door open to ease at some point which is what some are hanging their hat on.

Oil is up, gold, natural gas and bonds are down a fraction.

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