Futures rising on Yellen testimony

AP News
Posted: Nov 15, 2013 7:58 AM
Futures rising on Yellen testimony

NEW YORK (AP) — Futures are rising a day after the nominee to head the Federal Reserve signaled that the country's accommodative economic policy could go on longer than many had expected.

Dow Jones industrial futures are up 28 points to 15,867. S&P futures have gained 3.5 points to 1,791.30. Nasdaq futures are up 5 points to 3,415.50.

During a confirmation hearing, Janet Yellen said that, "It's important not to remove support, especially when the recovery is fragile."

Many Americans seem to agree that the economy is not in full recovery mode, based on earnings from retailers this week.

Wal-Mart cut its annual outlook for the second time in three months, profit plunged at Kohl's and net income at Nordstrom's slumped 7 percent.

The U.S. releases data on industrial production and wholesale inventories Friday.