Nasdaq Ripping To Intra-Day Highs

The Nasdaq is currently strongly higher after Ben Bernanke's sppech in Jackson Hole, Wyoming. The Fed Chair did not announce any new liquidity provisions, and stocks initially sold off. In recent minutes, however, the Nasdaq has taken off and is sitting at intra-day highs, while both the Dow and S&P also lifted off of their lows for the session, but remain in negative territory. The Nasdaq is currently trading higher by around 0.62%. Gold is also bid higher, while oil is moderately lower. The massive move in the Nasdaq may have been driven partially by short covering in high-beta stocks.