Indices closed well into the green zone on Wednesday. Technology brands led the way up. Stocks rallied amid varied economic news. Earlier today, Federal Reserve Chairman, Ben S. Bernanke presented his semi-annual testimony before the House Financial Services Committee in Washington. Reiterating his continued support for easy monetary policy, the Fed head once again voiced his concerns about the looming spending cuts. Meanwhile, the Census Bureau reported a dip in durable goods orders. Orders for durable manufactured goods fell 5.2% in January, after climbing 3.7% in December. Discounting transportation, orders edged up 1.9% last month, following a 1% increase in December. Economists were expecting durable goods orders to decline 3.5% in January and the core number to rise 0.2%. On another note, the National Association of Realtors said its pending home sales index stepped up 4.5% in January after declining 1.9% the previous month. Economists expected a 1% uptick. Elsewhere, crude oil futures tacked on 29 cents to settle at $92.90 a barrel.
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