Wall Street opens in green territories

Wall Street continues its climb to the upside today as it did yesterday but this time as the Federal Reserve Chairman Ben Bernanke said: "the economy remains hampered by high unemployment and government spending cuts, and tightening policy too soon would endanger the recovery."

Plus he added that: “A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further”

Moreover further optimism was spread as sales of previously owned U.S. homes climbed in April to the highest level in more than three years as housing continued to gain momentum even if the reading came in below than forecasts.

In fact the world`s leading economy existing home sales for April came in at 4.97 million units higher or 0.6 percent; slightly below the market forecasts of 4.99 million or 1.4 percent.

Accordingly as the local stock market opened at 04:15 New York time, the Dow Jones rose by 0.51% or 78.63 points to 15466.20, the S&P gained by 0.95% or 15.85 points to 1685.01 and finally the Nasdaq Composite rose by 0.39% or 13.79 points to 3515.91.