Stocks gain on Bernanke comments, GDP revision

Date: Fri, 27 Aug 2010 12:00:53 -0400

STOCKS GAIN ON BERNANKE COMMENTS, GDP REVISION
U.S. stocks rise Friday as investors digest comments from Federal
Reserve Chairman Ben Bernanke that the Fed is ready to fight deflation
and welcome a better-than-expected GDP revision.

BERNANKE TALKS TOUGH ON DEFLATION
Federal Reserve Board Chairman Ben Bernanke said Friday that the
central bank would not sit idly and let the U.S. economy sink into a
period of deflation.

BERNANKE PUSHES BACK AT MORE EASING
Federal Reserve Chairman Ben Bernanke is not in any rush to further
ease monetary policy to stimulate the economy, writes Rex Nutting.

U.S. SECOND-QUARTER GROWTH SLOWS TO 1.6% RATE
The Commerce Department's downwardly revised estimate of
second-quarter growth in the U.S. economy comes in at 1.6% -- not as
bad as economists and investors had feared.

CONSUMER CONFIDENCE INCHES UP IN AUGUST
Consumer confidence rises slightly in August but still remains weak,
according to a report released Friday.