Nikkei leads Asian stocks higher as investors cheer Yellen news

CNBC ^ | October 9, 2013 | Nyshka Chandran

[John W]

Japan led Asian stocks higher on Wednesday as investors cheered news that President Obama will announce Janet Yellen as the next chair of the Federal Reserve.

Yellen is widely perceived as being more dovish on monetary policy and investors expect her to take a slower path towards a reduction of the Fed's bond-buying program. The announcement is scheduled for 3pm ET on Wednesday.

"The main thing is that Yellen is seen as having policies in line with [current Fed Chairman Ben] Bernanke," said Stan Shamu market strategist at trading firm IG. "The news might temporarily take traders' minds off the budget stalemate and debt ceiling - certainly it does look like it will give markets a kicker today."

[momincombatboots]

Thanks for posting. Should have been in the Ink industry for the Fed. Bowing to our masters the Chinese is pretty ridiculous. Can we take over Cuba yet, warm ocean breezes, just a little revolution... then sunny beaches. Just declare it East Texas.

[SoFloFreeper]

Why would Yellen bring happiness? She wants to keep printing money?

That is moronic.

[John W]

It’s almost as if the entire world is whistling past the graveyard. It’s ridiculous. Obviously won’t end well, but, those profiting now don’t seem to care.

[Nervous Tick]

>> [Yellen’s nomination] might temporarily take traders’ minds off the budget stalemate and debt ceiling

Traders are *that* shallow?

[John W]

“Traders”, “Investors”, hell, “Everyone”. On purpose I think because who wants to consider how this ends? We all know how, but, even we aren’t necessarily looking forward to living through that. We’ll surely suffer along with everyone else because of the end result of policies we didn’t agree with and knew would lead to disaster.

[TurboZamboni]

stock market went up today.

nearly every business has goobermint contract(s)- crony crapitalism is alive and well.