Relief over debt ceiling, Fed lift Wall Street for fourth day

By Ryan Vlastelica NEW YORK (Reuters) – Wall Street rose for a fourth straight session on Tuesday as Congress agreed to advance legislation extending U.S. borrowing authority and the Federal Reserve's new chief held off from making any changes to its schedule for trimming stimulus. Republican leaders in the U.S. House of Representatives caved in to demands by President Barack Obama and agreed to advance legislation increasing Washington's borrowing authority, removing a potential market headwind. Fed Chair Janet Yellen emphasized continuity in the U.S. central bank's policy strategy of cutting asset purchases by $10 billion a month, saying she strongly supports the approach of her predecessor, Ben Bernanke. "Everyone is more relaxed now that those issues are officially off the table." The Fed's policies have been credited with driving the market's steep gains in 2013, and those accommodative measures are expected to keep a floor under stock prices for as long as they continue.