U.S. stocks rally as Bernanke speaks on economy

Date: Mon, 02 Aug 2010 12:00:54 -0400

U.S. STOCKS RALLY AS BERNANKE SPEAKS ON ECONOMY

U.S. stocks surge as better-than-expected construction spending and
manufacturing data add to mounting optimism over encouraging European
bank earnings.

BERNANKE SAYS STATES SHOULD BUILD BIGGER BUFFERS
Federal Reserve Chairman Ben Bernanke on Monday called for states to
build up larger rainy-day funds as he said consumer spending is set to
sustain the economic recovery.

GEITHNER: BANK REFORM CAN'T MOVE AT 'GLACIAL' PACE
Bank and securities regulators need to move quickly to write rules
based on sweeping bank reform legislation approved in the wake of the
financial crisis, Treasury Secretary Timothy Geithner says in remarks
expected to be delivered later Monday.

AUGUST IS A GOOD MONTH FOR STOCKS
August over the past century has been one of the better months of the
calendar for the stock market, while September has been the worst.