US stocks opened slightly higher today after Federal Reserve Chair Janet Yellen reinforced the Fed’s plan to scale back its market-friendly stimulus while noting the health of the labor market needed to improve.
The Dow Jones industrial average rose 32.94 points or 0.21 percent, to 15,834.73, the S&P 500 gained 1.94 points or 0.11 percent, to 1,801.78 and the Nasdaq Composite added 8.868 points or 0.21 percent, to 4,157.042.
European shares climbed to a two-week high with positive news from companies like BMW and Hexagon boosting sentiment ahead of the US Federal Reserve chair’s testimony, which is likely to be dovish.
Measurement technology group Hexagon rose 4.7 percent to the top of pan-European FTSEurofirst 300 index after posting Q4 sales and operating profit in line with expectations and saying its sales should grow at least 5 percent in 2014.
The European auto sector raced higher, with the sector index rising 1.4 percent. It was helped by a 1.7 percent rise in BMW after the luxury automaker said its January vehicle sales rose to a record high.
The FTSEurofirst 300 index of top European shares was up 0.6 percent at 1,309.24 points after climbing to its highest since late January in a fifth straight session of gains.
UK retailers were helped by a survey showing British retail sales rebounded last month after a weak December to record their strongest annual growth since April 2011.
Source: Buenos Aires Herald