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Market Higher After Yellen Speaks At Jackson Hole

Jeremy Lutz - MarketClub

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Hello Traders everywhere. Reforms put in place after the 2007 to 2009 crisis have strengthened the financial system without impeding economic growth, and any changes to these rules should remain modest, Federal Reserve Chair Janet Yellen said Friday in her fullest defense yet of the regulations enacted after the Great Recession.

"The balance of research suggests that the core reforms we have put in place have substantially boosted resilience without unduly limiting credit availability or economic growth," the Fed chair said at an annual central bank research conference.

However, Yellen did not mention monetary policy in her prepared remarks, disappointing some investors who had hoped she might offer hints on the Fed's path on interest rates.

U.S. stocks rose, and the dollar fell, while Treasury yields dipped slightly.

Key levels to watch next week:
S&P 500 (CME:SP500): 2,490.87
Dow (INDEX:DJI): 22,179.11
NASDAQ (NASDAQ:COMP): 6,423.35
Gold (NYMEX:GC.Z17.E): 1,301.40
Crude Oil (NYMEX:CL.V17.E): 48.50
U.S. Dollar (NYBOT:DX.U17.E): 94.05

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