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Tech shares drive stocks higher

Tuesday, June 21, 2016 - 00:59

Stocks rose on Tuesday as Fed Chair Janet Yellen played down the risk of a recession, and concerns about Britain leaving the European Union eased. Bobbi Rebell reports.

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Stocks held on to gains on Tuesday to finish in the plus column, powered by technology shares. Federal Reserve Chair Janet Yellen told Congress she was optimistic about the economy and played down the risks of a recession. But she also cited risks including Britain's possible exit from the European Union, as well as a slowdown in the U.S. labor market. David Nelson of Belpointe Asset Management: (SOUNDBITE) DAVID NELSON, CHIEF STRATEGIST, BELPOINTE ASSET MANAGEMENT, (ENGLISH) SAYING: "It's pretty clear at least from my perspective that the Federal Reserve is back in the bunker. I think the recent data, the jobs report earlier this month kind of shook her up and they are taking a step back." Twitter will allow users to share 140 second videos and let video publishers make money on their video streaming service, Vine. In Europe, shares rose as worries that Britain would vote to leave the European union continued to ease.

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Tech shares drive stocks higher

Tuesday, June 21, 2016 - 00:59