US STOCKS-S&P 500 ends at 7-mo high after Yellen comments

lunes 6 de junio de 2016 16:28 GYT
 

* Fed Chair Janet Yellen sounds upbeat note on economy

* Oil gains, boosts energy shares

* Indexes up: Dow 0.6 pct, S&P 500 0.5 pct, Nasdaq 0.5 pct (Updates to close)

By Caroline Valetkevitch

June 6 (Reuters) - The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming.

Energy shares also boosted the market after oil ended higher for a third straight session. The S&P energy index rose 2 percent, leading gains in the benchmark S&P 500.

Yellen's remarks, which were likely her last public comments before a policy meeting next week, followed Friday's dismal monthly jobs report, which raised concerns over the ability of the economy to absorb a rate hike as early as June.

Yellen called the jobs report "disappointing," but said "one should not attach too much significance to a single report."

Her remarks seemed to ease some fresh worries about the economy while also underscoring views the Fed may be in no rush to raise rates.   Continuación...