US STOCKS-Wall St up on Chinese and US data, Yellen comments

miércoles 16 de abril de 2014 13:30 GYT
 

* China's growth slows, but exceeds median forecast

* U.S. industrial production rises for second month

* Yellen re-affirms monetary policy support

* Indexes up: Dow 0.6 pct, S&P 0.6 pct, Nasdaq 0.6 pct (Updates prices, changes comment, adds Yellen)

By Rodrigo Campos

NEW YORK, April 16 (Reuters) - U.S. stocks rose for a third straight session on Wednesday after data showed China's economic growth exceeded expectations and U.S. industrial production rose for a second straight month.

Federal Reserve chair Janet Yellen, speaking in New York, provided further support, re-affirming the Fed's commitment to keep interest rates low, even after ending its bond buying program, as long as inflation remains under target and unemployment elevated.

"The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained," Yellen told the Economic Club of New York.

Earlier China reported that its economy grew at its slowest pace in 18 months at the start of 2014, but the rise was better than expected and showed some improvement in March.   Continuación...