Brands Gain On Fed Word

Stocks posted gains on Wednesday. Brands such as Caterpillar, Merck and General Electric led Dow advancers on assuring words from Ben Bernanke. The Fed head said the central bank is prepared to provide further monetary stimulus if needed. Speaking before lawmakers in Washington, Mr. Bernanke reiterated statements made at the last FOMC meeting. Meanwhile, crude oil added 62 cents to settle at $98.05 a barrel. Elsewhere, import prices slipped for the first time in a year. The Bureau of Labor Statistics said prices declined by 0.5% in June, following a 0.1% gain in May. Looking ahead, June retail-sales numbers as well as earnings reports from the likes of JPMorgan Chase and Google are due for release tomorrow.

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