Wall Street futures get Bernanke boost

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Associated Press

Posted on July 11, 2013 at 7:03 AM

Updated Thursday, Jul 11 at 8:02 AM

NEW YORK (AP) — 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.

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