MARKET SNAPSHOT: U.S. Stocks Creep Higher Ahead Of Brexit Vote, Yellen Testimony
June 22 2016 - 10:08AM
Dow Jones News
By Ellie Ismailidou and Victor Reklaitis, MarketWatch
Fed's Yellen to give second day of testimony; Tesla shares dive
after bid for SolarCity
U.S. stocks made a tepid move higher Wednesday morning, putting
the three main indexes on pace to extend a two-day advance amid
uncertainty around Thursday's U.K. referendum on European Union
membership.
Investors were also bracing for a second day of congressional
testimony from Federal Reserve Chairwoman Janet Yellen starting at
10 a.m. Eastern Time on the economy and monetary policy. A possible
Brexit and other risks justify a cautious policy approach
(http://www.marketwatch.com/story/feds-yellen-says-brexit-could-have-significant-economic-repercussions-2016-06-21),
she said Tuesday.
Meanwhile, Tesla Motors Inc. (TSLA) was in the spotlight after
the electric-car company headed by Elon Musk offered to buy
SolarCity Corp. (SCTY) late Tuesday.
The S&P 500 rose 3 points, or 0.2%, to 2,092, led by a 0.3%
gain in telecom stocks. Most of the S&P's 10 sectors were in
positive territory, with utilities and energy showing early
losses.
The Dow Jones Industrial Average rose 48 points, or 0.3%, to
17,880, led by a 1% gain in Boeing Co.(BA). McDonald's Corp.(MCD)
was leading the losses, down 1.4%.
Meanwhile the Nasdaq Composite Index tacked on 4 points, or less
than 0.1%, to 4,847.
(END) Dow Jones Newswires
June 22, 2016 09:53 ET (13:53 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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