Wall Street gains on Fed speech

United States stocks close modestly higher as Fed chairman Bernanke says stimulus is not 'on a preset course'.

United States stocks closed higher after Federal Reserve Chairman Ben Bernanke said the Fed's policy on tapering its bond-buying program was not on a "preset course."

At the closing bell, the Dow Jones Industrial Average added 16.82 (0.11%) at 15,468.67.

The broad-based S&P 500 put on 4.52 (0.27%) at 1,706.11 points.

The tech-rich Nasdaq Composite Index increased 11.50 (0.32%) to 3,610.00 points.

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