Financials lift S&P 500, Dow; Powell, Yellen on deck

REUTERS: The S&P 500 and the Dow rose on Wednesday as economy-linked financial and energy stocks gained amid another day of testimonies from Fed Chair Jerome Powell and Treasury Secretary Janet Yellen.

"Wall Street is looking for a new catalyst right now and is wondering if we are simply going through a see-saw pattern, which you might call a correction in time rather than a correction in price," said Sam Stovall, chief investment strategist at CFRA Research in New York. Wall Street's main indexes have flipped between gains and losses this week as easing bond yields prompted a return to beaten-down technology stocks from economy-linked energy and financial stocks.Powell and Yellen resumed their Congressional hearings on Wednesday, a day after concerns about the cost of infrastructure spending and potential tax hikes weighed on stocks.

Facebook Inc, Apple Inc, Microsoft Corp and Amazon.com Inc slipped about 0.6per cent as premarket gains fizzled out.

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