Stocks rose in afternoon trading Friday after Federal Reserve Chairman Ben Bernanke said the U.S. is on track for long-term economic growth.

Bernanke left open the possibility of more action by the Fed if another recession looks likely. But he announced no new economic stimulus measures during his speech at a conference in Jackson Hole, Wyo.

Indexes fell sharply as the speech was released and it became clear that Bernanke was not promising new stimulus measures. The Dow Jones industrial average was down about 78 points shortly before the speech started and slumped as many as 220 points shortly after Bernanke started speaking. It recovered those losses within an hour. By late morning major market indexes were all trading higher.

Many traders were disappointed that the Fed chairman didn't offer steps to shore up the fragile economic recovery. Optimism had been building on Wall Street this week that Bernanke might announce some kind of action. Bernanke was speaking at a conference in Jackson Hole, Wyo., the same event where he announced plans for a bond-buying program a year ago.

Medical marijuana cannot be sold through private shops, the Michigan appeals court said Wednesday in a major decision that strikes at businesses trying to cash in on pot and cuts off a source for people with chronic ailments.

A three-judge panel said the 2008 medical marijuana law, as well as the state's public health code, does not allow people to sell pot to each other, even if they're among the 99,500 who have state-issued marijuana cards.

The court said Compassionate Apothecary in Mount Pleasant, Mich., can be immediately shut down as a "public nuisance." The 3-0 decision means local authorities can pursue similar businesses, estimated at 200 to 300, in their communities.

It was not immediately clear whether they would, but state Attorney General Bill Schuette said he's notifying all 83 county prosecutors.

"This ruling is a huge victory for public safety and Michigan communities struggling with an invasion of pot shops near their schools, homes and churches," Schuette said in a statement. "The court echoed the concerns of law enforcement, clarifying that this law is narrowly focused to help the seriously ill, not the creation of a marijuana free-for-all."

Of course, not everyone shares that view. Chuck Ream, president of an Ann Arbor shop, called the ruling an "assault on democracy" nearly three years after voters approved marijuana as a way to relieve pain or other medical problems. He estimates that one-third of people with marijuana cards get pot through dispensaries, with others growing their own or getting it through a registered caregiver.