Markets

U.S. stocks open higher on Yellen comments, energy strength

U.S. stocks open higher on Yellen comments, energy strength

The testimony boosted the Dow Jones by 0.6% to 21,532.14 - a record.

The S&P 500 is up 34.09 points, or 1.4 percent.

Quarterly earnings kick off on Friday with three of the biggest USA banks - JPMorgan Chase, Wells Fargo and Citigroup - reporting results.

LONDON: European shares inched higher on Thursday, with investors less keen to chase the previous session's strong rally that came on the back of the relatively dovish tone struck by Fed chair Janet Yellen overnight. Small caps posted a weak session, with Russell 2000 futures ending only slightly below the break-even line. The stock had traded more than 6 percent higher in the premarket.

USA stocks closed modestly higher Friday, notching record highs for several major US indexes. The S&P 500 was up 0.9% and the Dow Jones industrial average held a 0.6% gain.

She said policymakers planned to raise interest rates to reach a neutral policy stance, but added that this point was not too far off. The Nasdaq 38.03 points, or 0.61%, to 6312.47-the largest one-week point and percentage again since early December.