MARKET SNAPSHOT: U.S. Stocks Step Higher As Markets Await Yellen Testimony
June 21 2016 - 10:07AM
Dow Jones News
By Ellie Ismailidou and Victor Reklaitis, MarketWatch
Market on track for second day of gains sparked by Brexit
polls
U.S. stocks saw modest early gains Tuesday, building on the
previous session's advance as investors awaited congressional
testimony from Federal Reserve Chairwoman Janet Yellen.
The S&P 500 gained 3 points, or 0.2%, at 2,085, led by
technology shares, up 0.7%. Half of the S&P's 10 sectors were
in negative territory, with energy stocks leading the losses,
weighed by a drop in crude-oil prices .
The Dow Jones Industrial Average added 26 points, or 0.2%, to
17,832, led by a 1.1% gain in Nike Inc.(NKE) but weighed by a 0.4%
drop in Caterpillar Inc.(CAT). Energy giant Exxon Mobil Corp.(XOM)
was the second worst performer on the index.
Meanwhile, the Nasdaq Composite was up 10 points, or 0.2%, at
4,848.
Investors continued to closely follow the most recent polls from
the U.K., where the so-called Brexit referendum is set to take
place on Thursday. On Monday, the stock market was aided by polls
showing support swinging back toward the U.K. remaining a member of
the European Union.
See:Soros says Brexit aftermath will be worse than time he broke
Bank of England
(http://www.marketwatch.com/story/soros-says-brexit-aftermath-will-be-worse-than-time-he-broke-the-bank-of-england-2016-06-20)
Yellen is due to deliver her semiannual testimony before the
Senate Banking Committee at 10 a.m. Eastern Time. Fed watchers and
traders will track her remarks for indications of the health of the
domestic economy and when the U.S. central bank will resume raising
benchmark interest rates.
(END) Dow Jones Newswires
June 21, 2016 09:52 ET (13:52 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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