S&P 500 ends at seven-month high after Yellen comments...

The S&P 500 closed at a 7-month high on Monday as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the economy but gave little sense of when a rate hike may be coming.

Energy shares also boosted the market after oil ended higher for a third straight session. The S&P energy index (.SPNY) rose 2 percent, leading gains in the benchmark S&P 500.

Yellen’s remarks, which were likely her last public comments before a policy meeting next week, followed Friday’s dismal monthly jobs report, which raised concerns over the ability of the economy to absorb a rate hike as early as June.

Yellen called the jobs report “disappointing,” but said “one should not attach too much significance to a single report.”

• Share
• Tweet
• Share
• Share
• Share