Summers, Syria Raise Stocks (Bloomberg)
Easing tensions regarding Syria and Lawrence Summers’s withdrawal of his candidacy for the next chair of the Federal Reserve led the S&P 500 to a five-week peak. “I don’t think the market knew what kind of a Fed chairman Summers would be, and having him out of the running makes things look a lot more certain,” Colleen Supran, a principal of Bingham, Osborn & Scarborough in San Francisco, said. “This tapering announcement that’s expected for Wednesday seems to be accepted by the markets. It’s probably going to be modest.”
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