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Wall Street steady ... Fed chairman indicates more stimulus ... Home foreclosures down

Thursday - 7/11/2013, 7:40am  ET

NEW YORK (AP) -- There are a couple of bright spots after a relatively quiet trading day saw the Dow's string of winning sessions come to a halt. The bluechip index lost a little less than 9 points, while the S&P was up a fraction. But, the Nasdaq's gain was stronger. It rose 16.5 points to 3,520.76, its highest level since October 2000. And small-company stocks continued their surge. The Russell 2000 rose 2.4 points to a record 1,020.42.

BEIJING (AP) -- Asian stock markets rose today after Federal Reserve chairman Ben Bernanke promised to continue to stimulate the U.S. economy. Oil stayed above $106 a barrel, near the highest level in more than a year, on hopes of stronger U.S. demand. Markets rebounded from caution a day earlier over unexpectedly weak Chinese trade figures that suggested the world's second-largest economy is slowing even more abruptly than forecast.

WASHINGTON (AP) -- Ben Bernanke continues to stress that the Federal Reserve will continue efforts to stimulate the economy, even after it begins to slow its monthly bond purchases, which have kept long-term interest rates low. Speaking in Massachusetts yesterday, the Fed chairman said the U.S. economy still needs the help with unemployment remains high and inflation below the Fed's target.

WASHINGTON (AP) -- The Labor Department provides its weekly report this morning on the number of people applying for jobless benefit. Also today, retail chains are expected to begin reporting their June sales figures.

LOS ANGELES (AP) -- There are more signs that the U.S. is shaking off its housing burst hangover. The foreclosure listing firm RealtyTrac says fewer homes entered the foreclosure process or were repossessed by banks in June. But foreclosures remain a potential drag on housing in many states, including Florida, Nevada, Illinois, Ohio and Georgia. --


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