The three indices are slightly in the green as Federal Reserve Board Chair Janet Yellen said the Fed will continue to raise rates and introduce measures to reduce the balance despite low inflation. Yellen did not disclose dates data. The U.S. economy is doing well and the gradual increase in rates is necessary to sustain economic expansion.
The Dow Jones Industrial Average advanced to 21,467, the S&P 500 index rose to 2,434.5 and the Nasdaq Composite jumped to 5,763. The yield on 10-year U.S. Treasury notes is 2.31%, remaining at its highest level in the past two months.
Morning movers
Advanced Micro Devices Inc. (AMD, Financial), Bank of America Corp. (BAC, Financial), NRG Energy Inc. (NRG, Financial), Nvidia Corp. (NVDA, Financial), Apple Inc. (AAPL, Financial), Facebook Inc. (FB, Financial), Chesapeake Energy Corp. (CHK, Financial), Micron Technology Inc. (MU, Financial), Ford Motor Co. (F, Financial) and PayPal Holdings Inc. (PYPL, Financial).
Top gainers
NRG Energy, Fastenal Co. (FAST), CF Industries Holdings Inc. (CF), Seagate Technology PLC (STX), PayPal”‹, American Airlines Group Inc. (AAL), United Continental Holdings Inc.(UAL), Ulta Beauty Inc. (ULTA), Hess Corp. (HES), Murphy Oil Corp. (MUR), AES Corp. (AES) and Transocean Ltd. (RIG)”‹
Top losers
Harley-Davidson Inc.(HOG), Freeport-McMoRan Inc. ”‹(FCX), Kimberly-Clark Corp.(KMB),”‹Â Bank of America, Morgan Stanley (MS), Charles Schwab Corp. (SCHW), Citizens Financial Group Inc. (CFG), Hewlett Packard Enterprise Co. (HPE), Deere & Co. (DE), Zions Bancorp (ZION),”‹Â Regions Financial Corp. (RF) andMetLife Inc. (MET).
Europe
The main European stock markets were up, waiting for Janet Yellen's report to Congress. The energy and mining stocks led the advance. In London, the FTSE 100 yielded 1.12%; the Dax of Frankfurt 1.28%; the CAC 40 of Paris 1.50%; and the IBEX 35 of Madrid 0.83%.
Disclosure: Author holds no positions in any stocks mentioned.
