Stocks Extend Four-day Rally

U.S. stocks opened higher on Wednesday, as investors welcomed an upbeat economic outlook from St. Louis Federal Reserve President James Bullard, who sees a 3% or better growth in 2014. The Dow Jones Industrial Average lately rose 20.84 points, or 0.13%, at 16,015.61. The S&P 500 was up 4.66 points, or 0.26%, at 1,824.41. The Nasdaq Composite gained 18.62 points, or 0.44%, at 4,209.66.

James Bullard, the president of the St. Louis Federal Reserve Bank, said Wednesday that recent weak economic data have not deterred his optimism about the U.S. economy. “I’m still optimistic about the prospects for this year. I think we can get 3% [growth] or better,” Bullard said in a panel discussion sponsored by the European-American Chamber of
Commerce.

Medicines Co. (MDCO) said a U.S. Food and Drug Administration advisory panel is meeting Wednesday to discuss the
company’s drug application for its experimental anti-blood-clotting drug.

Bank of England Governor Mark Carney on Wednesday launched what he described as phase two of his flagship forward-
guidance policy, as the central bank’s latest forecasts showed the British economy is poised to expand much faster than
officials previously thought.

China’s trade performance zoomed past forecasts in January, as import growth hit a six-month high, data showed
Wednesday, confounding earlier analysis suggesting that the economy was mired in a deepening slowdown.