This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stocks Close Up Slightly Ahead of Yellen's Capitol Hill Debut

NEW YORK (TheStreet) -- U.S. equities closed slightly higher Monday, a day before new Federal Reserve Chairwoman Janet Yellen speaks to Congress for the first time.

  • The S&P 500 gained 0.16% to 1,799.84, while the Dow Jones Industrial Average was up 0.05% to 15,801.79. The Nasdaq added 0.54% to 4,148.17.
  • Yellen on Tuesday will deliver her first semi-annual monetary policy testimony before the House Financial Services Committee in Congress. The Fed chair will delivery the second part of her testimony before the Senate Banking Committee on Thursday.
  • "You've got a situation where the week after the labor data is released tends to be a very slow week from an economic standpoint," Phil Orlando, chief equity strategist, said in a phone interview from New York. "Investors are willing to sit on their hands and wait to hear what Dr. Yellen says in Congress for the first time."
  • There were no major U.S. economic releases scheduled for Monday.
  • In company news, Green Mountain Coffee Roasters (GMCR) and Krispy Kreme Doughnuts (KKD) gained Monday after the companies announced a multi-year agreement to bring Krispy Kreme's signature coffee to K-Cup packs for the Keurig brewing system. Green Mountain Coffee shares jumped 2.9% to $110.92, while Krispy Kreme increased 3.2% to $17.96 a share.
  • Hasbro  (HAS) was the top performer in the S&P 500 after the toy company said it expected toys for its boys brands to boost revenue in 2014. The upbeat company outlook offset weak fourth-quarter 2013 earnings results. Shares popped 4.5% to $52.36.
  • Loews (L) was the worst performer in the S&P 500 after the commercial holding company reported a wider fourth-quarter loss -- a loss of $198 million, or 51 cents a share -- escalated by impairment charges. Shares slumped 4.3% to $43.26.

-- Written by Joe Deaux and Andrea Tse in New York.

>Contact by Email.

Follow @JoeDeaux

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs