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US: Stocks edge up as Yellen addresses Senate panel

Tuesday, June 21, 2016 - 22:35

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US stocks rose slightly on Tuesday morning as Federal Reserve Chair Janet Yellen opened congressional testimony on monetary policy and warned of risks if Britain votes to leave the European Union.

[NEW YORK] US stocks rose slightly on Tuesday morning as Federal Reserve Chair Janet Yellen opened congressional testimony on monetary policy and warned of risks if Britain votes to leave the European Union.

In testimony to the Senate Banking Committee, Ms Yellen said that the US economy faces "considerable uncertainty" from slower domestic activity and from Thursday's possible British vote in favor of exiting the EU, which "could have significant economic repercussions."

About 35 minutes into trade, the Dow Jones Industrial Average was at 17,808.23, up less than 0.1 per cent.

The broad-based S&P 500 also added less than 0.1 per cent at 2,083.81, while the tech-rich Nasdaq Composite Index rose 0.1 per cent to 4,840.55.

AFP

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