Watch Art Cashin: Whew! Why Wall Street feels better
Art Cashin says stocks got a modest boost when the Senate confirmation hearing for Janet Yellen to be Federal Reserve chair ended without any indication she faces significant opposition.
Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that "it's no so much what she said. But I think the demeanor of the hearing reassured the markets and bonds have rallied a little bit and so have stocks. Things went just right."
Says Cashin, "They did everything but buy her a corsage."