The S&P reversed early losses to close at an all-time high after Fed chair Janet Yellen's testimony. Yellen said recent poor economic data could be due to the effects of bad weather but that the central bank was prepared to vary the pace of stimulus wind-back if that was not the case. In Europe, the Ukraine sought aid from the International Monetary Fund, which will send an investigative team to the region in coming days. Several retailers including J.C. Penney rallied after solid results and earnings forecasts. TheStreet's Jane Searle speaks with Derek Orth at the NYSE.

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