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Today's Commentary
Monday, March 30, 2015

The bears finally took a breather today, with U.S. stocks edging higher after four straight days in the red. The Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) wobbled just north of the flatline for most of the day -- and barely put a dent in their weekly deficits -- as traders digested the latest gross domestic product (GDP) reading and commodities cooled off.

The Nasdaq Composite (COMP) was the star of the show, as a rebound among biopharmaceuticals helped the index outperform its peers.

Meanwhile, a late-session speech from Fed Chair Janet Yellen only helped the bulls' case, with the central banker opining that "conditions may warrant" an interest-rate hike sometime this year, but that lackluster inflation or jobs data could prolong the status quo. Looking ahead, Yellen will step up to the podium again on Thursday, just ahead of a closely watched payrolls report.


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