US STOCKS-Wall St rises on low rate bets; Brexit fears ebb

martes 21 de junio de 2016 15:50 GYT
 

* Sterling touches six-month high on 'remain' vote hopes

* Fed warns on high stock valuations

* Indexes up: Dow 0.3 pct, S&P 0.4 pct, Nasdaq 0.3 pct (Updates prices, changes byline)

By Rodrigo Campos

June 21 (Reuters) - U.S. stocks rose on Tuesday led by gains in technology shares as Federal Reserve Chair Janet Yellen was optimistic about the economy and played down the risk of a recession, while concern over the upcoming British referendum remained subdued.

Yellen, however, warned that the British vote on Thursday on whether to stay in the European Union, alongside a U.S. hiring slowdown, posed risks to the economic outlook.

The British pound earlier brushed $1.48 to hit its highest level in nearly six months versus the U.S. dollar, as markets continue to price in the momentum toward a vote to remain in the EU.

"The biggest issue in the market is clearly the upcoming vote in the UK. The sentiment swings back and forth and right now it is swinging toward 'remain' and that is giving support," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

The Dow Jones industrial average rose 53.18 points, or 0.3 percent, to 17,858.05, the S&P 500 gained 8.79 points, or 0.42 percent, to 2,092.04 and the Nasdaq Composite added 13.70 points, or 0.28 percent, to 4,850.91.   Continuación...