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The Closing Bell: S&P 500 Index Climbs After Yellen Remarks Boost Bank Stocks
FYI: U.S. stocks edged slightly higher on Thursday as an improving economic picture and greater clarity on Federal Reserve policy allowed the market’s postelection uptrend to continue, although the Dow Jones Industrial Average was pressured by a selloff in shares of Wal-Mart.
In testimony before the Joint Economic Committee, Federal Reserve Chairwoman Janet Yellen said an interest-rate hike could come “relatively soon,” further underlining expectations a rate move could come at the central bank’s December meeting. While that has long been seen as a likely time for a rate increase announcement, some investors have speculated on the possibility of a delay following the unexpected election of Donald Trump, which injected a measure of uncertainty into economic outlooks. Regards, Ted Bloomberg: http://www.bloomberg.com/news/articles/2016-11-16/asian-stocks-set-for-retreat-as-rising-fed-bets-underpin-dollar
