NEW YORK (Reuters) - U.S. stocks extended gains on Wednesday immediately following prepared testimony from Federal Reserve Chairman Ben Bernanke before a congressional panel.
The head of the central bank said monetary stimulus is helping the economy recover, and the Fed needs to see further signs of traction before taking its foot off the gas.
The Dow Jones industrial average gained 83.42 points, or 0.54 percent, to 15,471.00. The Standard & Poor's 500 Index rose 10.00 points, or 0.60 percent, to 1,679.16. The Nasdaq Composite Index was up 18.40 points, or 0.53 percent, at 3,520.52.
(Reporting by Leah Schnurr; Editing by Nick Zieminski)