U.S. Stocks Close Higher on Dovish Yellen Remarks

U.S. stocks closed at highs on Tuesday as Fed Chair Janet Yellen’s congressional testimony indicated that a rate hike would likely come later rather than sooner.

The testimony has “certainly got something for everyone on the market today. It’s right down in the middle of the fairway and leaves the window open for a June or September (rate hike),” said Art Hogan, chief market strategist at Wunderlich Securities.

Stocks climbed to new records amid Yellen’s remarks to the Senate Banking, Housing and Urban Affairs Committee on Tuesday. She will address the House Financial Services Committee on Wednesday.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.