10 things you need to know today: July 12, 2013

Stocks surge to a record close, Snowden asks human rights groups for help, and more

Traders work on the floor of the New York Stock Exchange at the end of the trading day on July 11. The Dow Jones Industrial Average closed at a record high.
(Image credit: Andrew Burton/Getty Images)

1. BERNANKE'S SOOTHING WORDS LIFT STOCKS TO RECORD HIGHS

The benchmark Dow and S&P 500 stock indexes surged to close at all-time highs on Thursday after Federal Reserve Chairman Ben Bernanke said the central bank would continue pumping money into the economy to bring down unemployment. The S&P lost ground in June — for the first time in eight months — after Bernanke hinted the Fed might soon end a bond-buying program that has been credited with igniting a stock rally, so his reassurances came as a relief to investors. The Dow closed at 15,460, and the S&P climbed to 1,675. [Reuters]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.