US markets overcame a sluggish start to cap a third consecutive gain overnight.
The initial losses on Wall Street were sparked by uncertainty over Fed Chairwoman Janet Yellen’s upcoming Congressional testimony.
The newly sworn in Yellen is due to front Congress tonight, and investors will be paying close attention for clues on how she intends to wind down the Fed’s stimulus measures.
The Dow added eight points (+0.1%) to 15802, the S&P500 climbed three points (+0.2%) to 1800 and the Nasdaq put on 22 points (+0.5%) to 4148.
In commodity markets oil continued to trade above $100 a barrel for the first time this year, whilst gold strengthened on hopes tonight’s testimony by Janet Yellen will have a dovish tone to it.
In company news, ANZ has reported a 13% jump in 3Q14 cash earnings and reaffirmed its full year revenue expectations.
On the economic front, the NAB Business Confidence Survey is due for release at 11:30am, AEDT.