Market Watch: Fed Chair Yellen Continues Testimony

Stock futures were flat Wednesday morning after comments from Federal Reserve Chair Janet Yellen pushed the Dow and S%P 500 to new record highs on Tuesday.

Yellen’s comments in front of the Senate Committee on Banking, Housing and Urban Affairs left investors with the impression that the Central Bank is in no hurry to raise interest rates. At the very least, it appears the first rate hike will come later than the previously expected date of June.

Yellen’s testimony will continue on Wednesday.

On the data side, new home sales figures for January are expected today. December’s report showed the lowest rate in nine months.

Major earnings reports will come from Lowe’s and Campbell Soup.

When the opening bell rings on Wall Street, these will be the starting numbers:

Dow Jones Industrial Average: 18,209.19

NASDAQ: 4,968.12

S&P 500: 2,115.48

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella
- 22 hours ago
Phil Cannella
Phil Cannella

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