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Market Snapshot: Stock market gains as Yellen sends dovish signal in congressional testimony

U.S. stocks advanced on Wednesday as Federal Reserve Chairwoman Janet Yellen emphasized the central bank’s gradual approach to normalizing monetary policy and expressed optimism about the economy in congressional testimony.

The S&P 500 SPX, +0.80% advanced by 17 points, or 0.7%, to 2,442 with all 11 main sector trading higher. Real estate, technology and materials shares rose at least 1%.

The Dow Jones Industrial Average DJIA, +0.63% added 118 points, or 0.6%, to 21,524, trading above its previous closing high set last month and briefly touching an intraday record of 21,580.79 earlier in the session. DuPont DD, +2.28%Microsoft Corp.

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