2-27-13 2:39 PM EST
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NEW YORK (MarketWatch) -- Financials stocks were higher on Wednesday as Federal Reserve Chairman Ben Bernanke finished up his second day of testimony on Capitol Hill. Bernanke said the Fed must be careful not to raise interest rates too soon in order to support the economy, but did acknowledge the time will come to start thinking of a change in strategy. J.P. Morgan Chase & Co. JPM shares were up 3.5% in trading. Bank of America BAC, Citigroup Inc. C and Morgan Stanley MS shares were up 2% in trading and Goldman Sachs GS shares were up 2.5%. The Financial Select Sector SPDR Fund, XLF that measures financial stocks in the S&P 500 was up 1.5% and up 7.5% for the year.
Copyright 2013 MarketWatch
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