S&P Market News Update

U.S. stocks moved higher Tuesday, with the S&P 500 and Dow industrials closing at records, as the market read Federal Reserve Chairwoman Janet Yellen’s testimony before Congress as a reassurance that a rate hike might not occur until the second half of the year.

The S&P 500 SPX, +0.28%  finished up by 5.82 points, or 0.3%, at 2,115.48, while the Dow Jones Industrial Average DJIA, +0.51% gained 92.35 points, or 0.5%, to end at 18,209.19.

Dollar inches lower on Janet Yellen’s testimony

 The dollar inched lower against the yen and euro after Federal Reserve Chairwoman Janet Yellen suggested the central bank’s first rate hike since 2006 may not occur until the second half of the year.

The dollar USDJPY, -0.24%  was at ¥118.89 Tuesday afternoon, compared with ¥118.83 late Monday in New York. The euro EURUSD, +0.05%  traded at $1.1342, compared with $1.1336.

The ICE U.S. Dollar Index DXY, -0.10% a measure of the dollar’s strength against a trade-weighted basket of six other currencies, declined 0.14% to 94.4410.

Silver Market Update

March silver SIH5, +1.90%  lost 6 cents to settle at $16.19 an ounce.

March copper HGH5, -0.55% advanced by 6 cents to $2.65 a pound. April platinum PLJ5, +0.96%  dipped by 30 cents to settle at $1,162.60 an ounce, while March palladium PAH5, +1.18%  gained $4.05 to $790 an ounce.

Gasoline Market Update

Nymex reformulated gasoline blendstock for March RBH5, -0.48% —the benchmark gasoline contract—fell 2.6 cents, or 1.6%, to close at $1.6202 a gallon. Nymex natural-gas futures for March delivery NGH15, +0.79%  rose 2.3 cents, or 0.8%, to $2.902 per million British thermal units.

Oil ends lower as traders await supply data

The U.S. crude-oil benchmark failed to hold on to initial gains Tuesday, losing ground for a fifth straight session as traders awaited the latest round of supply data.

West Texas Intermediate crude futures for delivery in April CLJ5, -0.04% lost 17 cents, or 0.3%, to close at $49.28 a barrel. WTI’s losing streak is the longest since August.

Brent crude for April delivery LCOJ5, +0.41%  on London’s ICE exchange also failed to hold on to initial gains, dropping 24 cents, or 0.4%, to close at $58.66 a barrel.