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LEAD: Dow Jones rises on Fed chief's upbeat remarks on economy.

NEW YORK, June 8 Kyodo


The Dow Jones index rose Tuesday after U.S. Federal Reserve Board Chairman Ben Bernanke's optimistic remarks about the U.S. economy.

The 30-issue Dow Jones Industrial Average, which fell 115.48 points Monday, gained 123.49 points to 9,939.98.

The tech-heavy Nasdaq Composite Index, which dropped 45.27 points the previous day, dropped another 3.33 points to 2,170.57.

The Fed chief said he does not expect the U.S. economy to dip into a second recession, easing investor concern that the debt crisis currently gripping some European countries will spread to North America, market analysts said.

Bernanke spoke after the Dow recorded a seven-month closing low on Monday.

The Dow also turned up on buybacks following substantial losses in the past two days that sent the index losing more than 430 points.

Buying focused on issues deemed undervalued recently, such as financials and energy stocks, the analysts said.
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Publication:Japan Weekly Monitor
Date:Jun 14, 2010
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