US markets rally after Bernanke comments

The S&P 500 closed at its highest level since May 2008 after Fed chairman Ben Bernanke hinted the US central bank would keep in place its supportive monetary policy.

He said the Fed needed to "remain cautious", which many analysts took as a sign interest rates would stay at record lows until 2014. The S&P 500 climbed 1.4% to 1,416.51, while the Dow Jones rose 1.2% and the Nasdaq gained 1.8% to close at 3,122.57, its best finish since November 2000. Speaking to economists in Virginia, Bernanke warned the job market remained weak despite three months of strong hiring. The US economy has added an average of 245,000 jobs a month from December to February, and the unemployment rate has fallen to 8.3% from 9.2% in June last year. But Bernanke said...