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US stocks climb on Yellen testimony, tech gains

Washington - US stocks edged higher ahead of another day of testimony from Fed Chair Janet Yellen, who yesterday indicated the Federal Reserve won’t rush to tighten monetary policy.

The S&P 500 added 0.1% to 2 445 at 15:50 after advancing on Wednesday to within 0.5% of its record. The Dow Jones Industrial Average added 20 points.

Tech shares up 0.4% for biggest advance in early trading Real estate shares up 0.3% for second gain this week.

Telecom shares down 0.7% for worst loss in market 10-year.

Treasury yield up about 1bp Energy down 0.15 as oil adds 0.7% VIX down to 10.1 Volume in S&P 500 down 25% from 30-day average at this time.

Politics: US Secretary of State Rex Tillerson’s shuttle diplomacy in the Gulf this week has yielded some ideas that could provide the basis for a solution to the diplomatic crisis, according to three officials with knowledge of the deliberations.

The latest version of the Senate GOP health-care bill, which Senate Majority Leader Mitch McConnell plans to unveil today, will include Sens.

Ted Cruz’s and Mike Lee’s "Consumer Freedom Option," according to an unidentified person familiar with the matter.

Economy: US Weekly Jobless Claims Fell 3k to 247k; Est. 245k.

Producer-price index rose 0.1% (est. 0.0%) after no change the previous month PPI 2% from a year earlier after a 2.4% gain in the prior 12-month period.

Earnings: Pre-market on Friday: PNC Financial, JPMorgan Chase, Wells Fargo, Citigroup.

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