Wall Street is this weekend digesting the implications of Federal Reserve's chairman Ben Bernanke's speech to central bankers at Jackson Hole, Wyoming.

US Outlook: Ben Bernanke's speech in Jackson Hole could be summed up this way: It's not all about me, you know.

Burberry was strutting its stuff near the top of the blue-chip index last night after the luxury fashion brand was praised as the stock to buy whatever the economic weather.

Ben Bernanke, the chairman of the Federal Reserve, said yesterday that the US central bank was prepared to take further action to support the economy but left markets guessing about specific measures.

New York

Wall Street posted its first weekly gain in more than a month as the Fed chairman, Ben Bernanke, left the door open for more stimulus measures. The Dow Jones ended up 134.72 points, or 1.21 per cent, at 11,284.54. The S&P 500 rose 17.53 points, or 1.51 per cent, to 1,176.80. The Nasdaq was up 60.22 points, or 2.49 per cent, at 2,479.85. For the week, the Dow rose 4.3 per cent and the S&P gained 4.7 per cent.

European and US stocks fell after Federal Reserve Chairman Ben Bernanke indicated the central bank would take no new steps to boost the US economy and ward off another recession.

Economic Life: Quantitative easing, let there be no doubt, is inflationary in intent because the fear is still of the world relapsing into deflation and depression

The US Federal Reserve chairman, Ben Bernanke, risks disappointing financial markets if a major policy speech today does not contain hints of additional monetary easing by the US central bank.

Orders for durable goods, long-lasting products like factory equipment and computers, rose in the US last month by more than economists had expected, data showed yesterday.

The possibility of Michael Page becoming a takeover target again was in focus last night following rumours Adecco could be gearing up for another attempt at the recruiter.

Fears of a global recession and another woeful session for banking shares did not stop the London market from making nervous gains today.