U.S. stocks rallied Monday as investors expect the European Union to send aid package to Ukraine. This is seen as positive news because the situation at Ukraine is threatening the global market, and a aid package will help ease the situation.
The market hasn’t being doing so well due to weak economic reports, but investors are looking ahead because they blame the harsh weather conditions to slow down consumer spending momentum.
Emerging Markets declines have also bounced back Monday which extended gains in the U.S. market.
Investors wait on Yellen as she will testify before the Senate Banking Committee and talk about the future about the stimulus program.
he S&P rose 11.36 points, or 0.6%, to 1847.61, after rising as high as 1858.71 earlier in the day. The Dow Jones Industrial Average gained 103.84 points, or 0.6%, to 16207.14. The Nasdaq Composite Index advanced 29.56 points, or 0.7%, to 4292.97.