Investors Yellin" for Yellen

By After the Bell FOXBusiness

Hewlett Packard (HPQ) releasing earnings beating analyst expectations for earnings per share by a penny - but missing on revenue. The PC giant also warned of currency challenges ahead. HP stock trading down more than 5% in after-hours trading.

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Investors were yellin' for Yellen today - the Federal Reserve chair testified in front of Congress to explain the fed's vision on monetary policy - the main takeaway: While the fed is not rushing to raise rates, Yellen did indicate the fed is not afraid to make a hike if economic conditions remain favorable.

I was joined by Jon Hilsenrath, the wall street journal's chief economic correspondent and Michael Cox, the former Dallas Fed senior vice president and chief economist.

Yellen's testimony propelled stocks higher - with all major U.S. indices ending the day in positive territory. Both the S&P and the Dow and Russell 2000 closing at new records, and the tech-heavy Nasdaq rising for a tenth session in a row.

Plus, we had breaking news in the last hour of trading. President Obama vetoed a bill approving construction of the keystone oil pipeline.  According to the senate majority leader Mitch McConnell, the senate will soon vote on an override of the president's veto.

Coming up tomorrow -  we'll get new home sales for the month of January - that's out at 10am eastern.
And we get day two of Yellen's testimony in front of the house financial services committee in Washington.

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