Published: Fri, July 14, 2017
Money | By Armando Alvarado

How major United States stock market indexes fared on Thursday

How major United States stock market indexes fared on Thursday

Stocks rose as investors waited for day two of Federal Reserve chief Janet Yellen's testimony to Congress.

The testimony boosted the Dow Jones by 0.6% to 21,532.14 - a record. The technology-heavy Nasdaq Composite Index added 1.1% to 6,261.17. Target climbed 2.28 percent after it raised its second-quarter forecasts and said sales and customer traffic grew. Consumer-focused stocks also rose.

In Europe, the CAC 40 in France was up 0.5 percent at 5,249 while Germany's DAX rose 0.1 percent to 12,632.

Stock indexes edged higher in early trading Thursday, led by gains in technology companies.

FED TALK: Yellen was appearing before a Senate committee, a day after she testified before a House panel.

Iran: 'Short-Sighted' US Policies to Blame for Terrorism
These changes would be to key areas such as access for the UN's nuclear watchdog, the IAEA, to military sites, among others. In return, tough worldwide sanctions that had crippled Iran's economy were eased.

FED TALK: Yellen's comments in her semiannual testimony to Congress assuaged concerns among some traders that the Fed has been too hasty in raising interest rates despite stalling inflation and sluggish USA economic growth of just 1.4 percent in the first quarter.

Snap Inc. surged 3% after Stifel Nicolaus upgraded the Snapchat parent to buy, saying that a recent selloff in the stock had created a "compelling" opportunity.

Analysts estimate second-quarter earnings for S&P 500 companies rose 7.8 percent from a year ago, with financials projected to have had the third-best profit growth among sectors, according to Thomson Reuters I/B/E/S.

Benchmark U.S. crude gained 59 cents, or 1.3 percent, to settle at $46.08 per barrel on the New York Mercantile Exchange.

CURRENCIES: The euro fell 0.1 percent to $1.14 while the dollar was down 0.1 percent at 113.09 yen. In Asia, Hong Kong's Hang Seng index jumped 1.2 percent after a report showed that Chinese trade growth accelerated for a second month in June. South Korea's Kospi advanced 0.17%, while Down Under, the S&P/ASX 200 rose 0.47%.

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