U.S. stocks rose on Friday after Federal Reserve Chairman Ben Bernanke said the central bank stood ready to act to bolster the economy, although he stopped short of giving a clear signal of additional monetary easing, AP reported. Trading was initially volatile after Bernanke's comments, with equities briefly cutting gains, as investors appeared initially disappointed that he proposed no aggressive measures to boost sluggish growth. But his stress on the struggling labor market helped stocks reverse course and climb. Stocks had rallied in recent weeks on growing expectations for stimulus measures from the Fed and European Central Bank before stalling this week as investors awaited a signal from the Fed Chairman. Indexes moved higher as Bernanke left the door open for more action. He spoke at the Kansas City Fed's annual Jackson Hole, Wyoming, symposium. The Fed's next policy meeting is in mid-September, and many analysts are looking to that for the final word on QE3. The Dow Jones industrial average gained 128.20 points, or 0.99 percent, to 13,128.91. The Standard & Poor's 500 Index rose 11.28 points, or 0.81 percent, to 1,410.76. The Nasdaq Composite Index climbed 23.04 points, or 0.76 percent, to 3,071.75. The S&P 500 was on pace for its biggest daily percentage gain since Aug. 3 and third straight monthly advance. -- SPA
