Wall Street Preview: Yellen's Comments Spark Global Market Rally
Wall Street Preview: Yellen's Comments Spark Stock Market Rally
U.S. stock futures were rising Thursday, July 13, while European and Asian shares gained following a Wall Street rally that was fueled by dovish comments from Federal Reserve Chair Janet Yellen.
In her semiannual testimony to Congress on Wednesday, July 12, Yellen said the Federal Reserve still thinks the U.S. economy warrants tighter monetary policy but not that much and at a slow and steady pace. Yellen reiterated that interest rate increases would be gradual.
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