Stocks Soar On Summers Withdrawal

wochit business
September 16, 2013 AT 12:55 PM
Wall Street rallied as investors bet that the exit of Lawrence Summers as a candidate for chief of the Fed could mean a slower scaling back of monetary stimulus. The equity surge began in Asia a few hours after Mr. Summers wrote President Obama that ?any possible confirmation process for me would be acrimonious? and thus not in the nation?s best interests.