After a two-day market skid, stocks rose today, thanks in part to data showing a six-year high in consumer confidence.
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Following yesterday’s Federal Reserve minutes which led investors to worry about a rise in interest rates, stocks rose today manufacturing data triggered optimism about the economy.
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Today, Federal Reserve Chair Janet Yellen revealed that the Fed’s stimulus program could end in the fall and that benchmark interest rates could rise soon after.
Investors continued to watch for developments in Ukraine, while data showing a jump in industrial production increased confidence in the economy, boosting stocks for the day.