Stocks Rally, S&P Higher for Quarter

U.S. stocks closed higher on Monday, with the S&P 500 ending both March and the first quarter of 2014 with gains, after Federal
Reserve Chair Janet Yellen calmed concerns about a rate hike coming earlier than expected. The Dow Jones industrial average rose
134.60 points, or 0.82 percent, at 16,457.66; the S&P 500 added 14.72 points, or 0.79 percent, at 1,872.34, and the Nasdaq
Composite gained 43.24 points, or 1.04 percent, at 4,198.99.

Federal Reserve Chairwoman Janet Yellen said Monday that the recovery still feels like a recession to many Americans, which is why
the central bank will keep its “extraordinary” support for the economy for “some time to come.”

Macy’s Inc. said Chief Merchandising Officer Jeffrey Gennette has been promoted to president, reporting to the department store
operator’s chairman and chief executive, Terry Lundgren.

General Motors Co.(GM) said Monday it is recalling at least 1.3 million cars to fix their power steering. The problem, found in
seven models made between 2004 and 2010, can cause a “sudden loss of electric power steering assist,” the company said.