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The Journal Gazette

  • In this Wednesday, July 10, 2013, photo, specialist Christopher Culhane works at his post on the floor of the New York Stock Exchange. Global stocks rose Thursday July 11, 2013 after Federal Reserve chairman Ben Bernanke promised to continue to stimulate the U.S. economy. (AP Photo/Richard Drew)

Thursday, July 11, 2013 6:45 am

Wall Street futures get Bernanke boost

The Associated Press

U.S. stock futures are jumping after Federal Reserve Chairman Ben Bernanke said the central bank would keep supporting the economy.

Dow Jones Industrial futures are up 131 points at 15,374. The broader Standard & Poor's 500 futures are up 16 points at 1,665. Nasdaq futures are up 27 points at 3,024.

Bernanke said Wednesday that the U.S. needs low interest rates and other economic support "for the foreseeable future." That reassured investors dismayed by Bernanke's comments last month that the Fed would likely slow its bond purchases this year.

Commodities were also big gainers. Oil touched its highest price in more than a year, above $107 per barrel before easing.

Later Thursday, investors will be watching reports on weekly claims for unemployment benefits and reports from select retailers on June sales.