Stocks Ended Mostly Up on Yellen

U.S. stocks ended mostly higher on Wednesday as the Federal Reserve signaled it will continue to support the economy. The Dow Jones Industrial Average gained 117.52, or 0.72%, to 16,518.54. The S&P 500 was up 10.49 points, or 0.56%, to 1,878.21. The Nasdaq Composite fell 13.09 points, or 0.32%, to 4,067.67.

A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank’s chief said on Wednesday. In testimony to Congress, Fed Chair Janet Yellen repeated her stance that the economy was still in need of lots of support given the “considerable slack” in the labor market.

Consumer borrowing rose in March by the most in more than a year as Americans stepped up credit-card use and took out school and auto loans. The $17.5 billion increase in consumer credit was bigger than projected and followed a revised $13 billion February advance that was smaller than initially reported, the Federal Reserve reported today in Washington.

Keurig Green Mountain Inc. (GMCR) said Wednesday it earned $260 million, or $1.03 a share, in its fiscal second quarter, up from $212.1 million, or 87 cents, in the same period a year ago, buoyed by strong coffee sales and cost cuts. Adjusted EPS was $1.08. Sales climbed 10% to $1.103 billion.