Stocks Gained Powered by Yellen’s Dovishness

U.S. stocks finished higher on Wednesday for the third straight session, helped for a second session by comments from Federal Reserve Chair Janet Yellen that eased anxiety about potential interest rate hikes. The Dow industrial Average gained 83.55 points, or 0.44%, to 17,716.66. The S&P 500 added 8.94 points, or 0.44%, to 2,063.95. The Nasdaq Composite was up 22.67 points, or 0.47%, to 4,869.29.

Yellen said on Tuesday the U.S. central bank should proceed cautiously as it looks to raise interest rates. On Wednesday,  her comments were echoed by Chicago Fed President Charles Evans, who said there was a high hurdle to raising rates in April, given low inflation.

Indutrt MetLife Inc (MET.N) won a major regulatory and legal battle on Wednesday when a federal judge struck down the U.S.government’s determination that it is “too big to fail”.

U.S. Bankruptcy Judge Mark Wallace on Wednesday approved a $49.8 million deal for Digital First Media to buy The Orange County Register and The Press-Enterprise.