Major US stock indexes rose moderately by the end of today's session

Major US stock indexes finished trading higher, renewing record highs, after Federal Reserve Chairman Janet Yellen reiterated its view that further monetary tightening is warranted if the economy will maintain its growth trajectory.

During his speech to the semi-annual report to the US Senate Banking Committee, the head of the Federal Reserve said that further increases in interest rates will be appropriate if inflation and the labor market will continue to gradually move in the direction of the central bank's forecasts. Ms. Yellen also said that the FOMC members will consider the possibility of further rate hikes in the upcoming meetings. In addition, she stressed the importance of fiscal policy to improve the long-term economic growth, but noted that this is only one of many factors affecting the economic outlook.

The focus of the market was also a report of the US Department of Labor members, who showed that producer prices rose more than expected in January, recording the biggest gain in four years amid rising energy costs and some services. According to the report, the final demand producer price index jumped 0.6% last month, which was the highest growth since September 2012, and following the growth of 0.2% in December. Despite the surge, the producer price index increased in the 12 months prior to January only 1.6%. This followed a similar gain in the 12 months to December. Economists had forecast growth of the producer price index by 0.3% last month and an increase year on year to 1.5%. The gain largely reflects an increase in prices for commodities such as crude oil, which is currently rising against the backdrop of an ever-growing global economy.

Oil prices rose nearly 0.6% against the efforts by the countries oil producers to reduce the level of black gold. Recall the last OPEC report showed that the cartel has reduced oil production by 890.2 thousand barrels per day as compared to December - up to 32.139 million barrels. Total production (including countries outside OPEC) decreased by 1,146 million barrels of promised 1,254,000. Thus, the OPEC agreement executed on 90%. However, increasing the volume of production from the US continues to put pressure on the price of oil.

DOW index components closed mostly in positive territory (22 of 30). Most remaining shares fell Chevron Corporation (CVX, -1.14%). leaders of growth were shares of JPMorgan Chase & Co. (JPM, + 1.71%).

Sector S & P index closed trading mixed. Most consumer goods sector fell (-0.9%). Maximizing demonstrated the health sector (+ 0.7%).

At the close:

Dow + 0.44% 20,501.33 +89.17

Nasdaq + 0.32% 5,782.57 +18.61

S & P + 0.40% 2,337.45 +9.20