Wall Street rallies 1% after Bernanke talks

Wall Street rallies 1% after Bernanke talks

Wall Street posted its first weekly gains in more than a month on Friday as Fed Chairman Ben Bernanke raised hopes for more stimulus for the economy at its September meeting.

The Dow Jones industrial average was up 134.64 points, or 1.21%, at 11,284.46, according the latest available figures. The Standard & Poor's 500 Index was up 17.50 points, or 1.51%, at 1,176.77. The Nasdaq Composite Index was up 60.22 points, or 2.49%, at 2,479.85.

For the week, the Dow rose 4.3% while the S&P added 4.7% and the Nasdaq climbed 5.9%.

src-BS