The first day of February started off on a weak footing. However, bargain hunters started to dive back into markets in droves the next day.
Improving economic data, including strong non-manufacturing and employment data, helped sustain the momentum.
The stock markets didn’t skip a beat as Janet Yellen debuted as the new Federal Reserve chief. Yellen made it clear that the central bank will stay on course and Fed policy will remain data-dependent.
Market gains began to slow but continued to steadily rise through the end of February, with the S&P 500 up to a new record high.
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