Stock Prices and Janet Yellen

Dow Jones Industrial Average: Blue chip stocks on the Dow Jones Industrial Average outperformed the broader market, closing up almost 0.5 per cent at 17,924, according to Australian Broadcasting Corporation. Fed chair Janet Yellen commentary yesterday that stock prices are quite high continued to inspire caution. The S&P 500 added 8 points, or nearly 0.4 per cent, to 2,088. Energy stocks were the market biggest losers as West Texas crude oil backtracked, falling 3.2 per cent to $US58.94 a barrel. There was also positive economic data, showing US claims for unemployment benefits are holding at a more than decade low. The tech sector was a bright spot though, with Chinese e-commerce company Alibaba leading the way with a gain of 7.5 per cent after reporting strong earnings growth. (news.financializer.com). As reported in the news.