Yellen’s Tame Hearing Nudges Stocks Towards New Records

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A number of major averages are on track for all-time highs as Janet Yellen’s Fed confirmation hearing offered few negative surprises.

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Although Thursday’s market gains are modest, they are enough to put the Dow Jones Industrial Average, the S&P 500, and the Dow Jones Transportation Average on track to close at record highs once again. The bulls on Wall Street can thank Janet Yellen, the Federal Reserve chairwoman nominee, for not saying anything too disruptive at her confirmation hearing.

If the stock market’s gains hold through Thursday’s closing bell, it will mark the 37th record finish this year for the DJIA, the 35th for the S&P 500, and No. 44 for the transports.

Here’s how the major averages are faring year-to-date:

 

Last

YTD Chg

YTD Return

2012 Close

DJIA

15850.79

2746.65

20.96%

13104.14

S&P 500

1787.56

361.37

25.34%

1426.19

Nasdaq Comp.

3962.19

942.68

31.22%

3019.51

DJ Transports

7172.76

1865.99

35.16%

5306.77

Russell 2000

1109.54

260.19

30.63%

849.35

 

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