Wall Street closes more than 1% higher

US stocks surge as new Fed chief Janet Yellen pledges policy continuity.

United States stocks closed more than 1% higher after new Federal Reserve chair Janet Yellen told Congress she has no plans to alter monetary policy set under predecessor Ben Bernanke.

At the closing bell, the Dow Jones Industrial Average surged 192.92 points, or 1.22%, to 15,994.71.


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