MARKET SNAPSHOT: U.S. Stocks Step Higher As Markets Await Yellen Testimony

By Ellie Ismailidou and Victor Reklaitis, MarketWatch

Market on track for second day of gains sparked by Brexit polls

U.S. stocks saw modest early gains Tuesday, building on the previous session's advance as investors awaited congressional testimony from Federal Reserve Chairwoman Janet Yellen.

The S&P 500 gained 3 points, or 0.2%, at 2,085, led by technology shares, up 0.7%. Half of the S&P's 10 sectors were in negative territory, with energy stocks leading the losses, weighed by a drop in crude-oil prices .

The Dow Jones Industrial Average added 26 points, or 0.2%, to 17,832, led by a 1.1% gain in Nike Inc.(NKE) but weighed by a 0.4% drop in Caterpillar Inc.(CAT). Energy giant Exxon Mobil Corp.(XOM) was the second worst performer on the index.

Meanwhile, the Nasdaq Composite was up 10 points, or 0.2%, at 4,848.

Investors continued to closely follow the most recent polls from the U.K., where the so-called Brexit referendum is set to take place on Thursday. On Monday, the stock market was aided by polls showing support swinging back toward the U.K. remaining a member of the European Union.

See:Soros says Brexit aftermath will be worse than time he broke Bank of England (http://www.marketwatch.com/story/soros-says-brexit-aftermath-will-be-worse-than-time-he-broke-the-bank-of-england-2016-06-20)

Yellen is due to deliver her semiannual testimony before the Senate Banking Committee at 10 a.m. Eastern Time. Fed watchers and traders will track her remarks for indications of the health of the domestic economy and when the U.S. central bank will resume raising benchmark interest rates.

(END) Dow Jones Newswires

June 21, 2016 09:52 ET (13:52 GMT)

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