Investors were encouraged by comments made by Federal Reserve Chair Janet Yellen before the Senate today, sending the S&P 500 to a new record high. “Yellen said that they would consider pulling back on their tapering schedule if the economy slowed in a meaningful manner,” Matt Maley, an equity strategist with Miller Tabak & Co., said. “She seems to be more willing to step back on the accelerator than she was when she last spoke to Congress.”
S&P 500 Reaches Record High on Janet Yellen’s Senate Testimony
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Elon Musk’s Tesla Motors Inc. (TSLA) plans to sell $1.6 billion in convertible notes to finance the world’s largest battery factory. Company reps are currently touring Texas, Nevada, Arizona and New Mexico, looking at potential sites for the 10 million-square-foot facility.
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