Stocks Extend Winning Streak

U.S. stocks climbed for a second straight day on Wednesday,  as a revision in economic growth calmed concern about U.S. monetary policy. The Dow Jones Industrial Average rose 149.83 points, or 1.02%, to 14,910.14. The S&P 500 index climbed 15.23 points, or 0.96%, to 1,603.26. The Nasdaq Composite added 28.33 points, or 0.85%, to 3,376.22.

The U.S. dollar rose on Wednesday, with the recent push higher supported by expectations that the Federal Reserve will slow down monetary stimulus later this year.

Clearwire Corp. (NASDAQ:CLWR) shares dipped late Wednesday after Dish Network Corp. (NASDAQ:DISH) announced it was withdrawing its tender offer for the company.

The astonishing boom involving the penny stocks of Fannie Mae Fannie Mae and Freddie Mac Freddie Mac has been dealt a big setback after a bipartisan group of senators introduced legislation aimed at getting rid of the prominent role these controversial.