US stocks finished flat yesterday with investors hesitant to make a big move on the day before comments from Federal Reserve Chair
The S&P 500 once again briefly broke above its 2013 year-end closing level of 1,848.36, which has served as resistance, but failed to hold above it, analysts said. The index remained down 0.2 per cent for the year.
"From a technical perspective, we're battling with the year-to-date break-even mark on the S&P," said
But he said the market also seems to be biding time until Thursday, when Yellen addresses the
Her comments will likely be scrutinized for insights as to how much the unexpectedly cold winter has affected US economic activity, and for further confirmation that the Fed will maintain its stimulus-trimming schedule.
The Dow rose 18.75 points or 0.12 per cent, to end at 16,198.41. The S&P 500 inched up a mere 0.04 of a point to finish at 1,845.16. The Nasdaq added 4.477 points or 0.1 per cent, to close at 4,292.064.
The S&P 500 reached a record intraday high of 1,858.71 on Monday, but was unable to hit a record close.
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