US STOCKS-Wall Street hits 2016 high after Yellen delivers

martes 29 de marzo de 2016 16:32 GYT
 

* Yellen says global risks remain

* Tech stocks lead S&P higher

* Indexes up: Dow 0.56 pct, S&P 0.88 pct, Nasdaq 1.67 pct (Updates to close)

By Noel Randewich

March 29 (Reuters) - The S&P 500 closed at its highest in 2016 on Tuesday after Federal Reserve Chair Janet Yellen called for caution on raising interest rates - music to Wall Street's ears.

In her first comments since the Fed held steady on rates earlier this month, Yellen said global risks remained, including uncertainty over China and low oil prices.

That was enough to reverse an earlier dip in stocks and leave the S&P 500 0.88 percent higher, its biggest one-day gain in 12 sessions.

After its worst January since 2009, the S&P 500 has fully recovered and is now up 0.55 percent for 2016, although investors remain concerned about a slow global economy, a strong dollar, volatile oil prices and lackluster top-line growth at U.S. companies.

Yellen's cautious tone contrasted with recent comments from other policymakers, including the chiefs of the Philadelphia and Atlanta Federal Reserves, who had expressed support for a more aggressive approach to raising interest rates this year.   Continuación...