US STOCKS-Wall St advances as Yellen keeps Fed policy intact

martes 11 de febrero de 2014 11:37 GYT

* Yellen, new Fed chair, takes hot seat at Capitol

* Yellen says labor market recovery far from complete

* Sprint, CVS climb after results

* Indexes up: Dow 0.53 pct, S&P 0.43 pct, Nasdaq 0.45 pct

By Chuck Mikolajczak

NEW YORK, Feb 11 (Reuters) - U.S. stocks rose on Tuesday after new Federal Reserve Chair Janet Yellen reinforced the central bank's plan to trim its market-friendly stimulus while noting the health of the labor market needed to improve.

In her first public comments as Fed chief, Yellen, giving a balanced testimony to a House committee, acknowledged recent volatility in global financial markets but said it did "not pose a substantial risk to the U.S. economic outlook," and that she strongly supported the policy approach of her predecessor, Ben Bernanke.

Yellen's appearance before the House Financial Services Committee began at 10 a.m. (1500 GMT).

"We didn't see anything, at least in the written release that would cause us any concerns," said Paul Mangus, head of equity research and strategy at Wells Fargo Private Bank in Charlotte, North Carolina.   Continuación...