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NEW YORK, May 22- U.S. stocks rose slightly at the open, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy. The Dow Jones industrial average gained 18.20 points, or 0.12 percent, to 15,405.78. The Nasdaq Composite Index rose 1.63 points, or 0.05 percent, to 3,503.75.
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*Saks rallies on report it could sell itself. NEW YORK, May 22- U.S. stocks were set to rise at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy.
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LONDON, May 22- European shares fell from multi-year highs on Wednesday, with luxury goods stocks among the worst performers, as some investors sold in anticipation of a near-term pull-back in the market. Federal Reserve chief Ben Bernanke is due to speak later in the day and the U.S. central bank is also due to release minutes of its May policy meeting.
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LONDON, May 22- European shares edged back on Wednesday from multi-year highs as the luxury goods sector lagged, with many investors reluctant to take new positions before comments on policy from the head of the U.S.
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HONG KONG, May 22- Hong Kong shares fell further from a 3-1/ 2- month high on Wednesday, with Chinese power producers extending losses, hit by a Citi downgrade on fears that a possible tariff cut could hurt profit margins.
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HONG KONG, May 22- China shares ended mixed on Wednesday, with power producers extending losses on lingering concerns that potential coal import curbs could hurt margins. The CSI300 of the leading Shanghai and Shenzhen A-share listings edged up 0.1 percent.
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TOKYO, May 22- The Nikkei average climbed 1.6 percent to a fresh 5-1/ 2- year high on Wednesday, spurred on by the Bank of Japan's optimism about the economic outlook, while Sony Corp surged on reports it may consider a proposal to spin off its entertainment assets.
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SINGAPORE, May 22- Asian stocks rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a fresh 5-1/ 2 year high and clinging to its gains as the Bank of Japan stood pat after unleashing massive stimulus last month.
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HONG KONG, May 22- Hong Kong shares started Wednesday afternoon trading lower after a severe rainstorm forced the cancellation of the morning session, with Chinese power producers again weak. The Hang Seng Index opened down 0.1 percent at 23,341.1. The China Enterprises Index of the top Chinese listings in Hong Kong also started 0.1 percent lower.
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*Nikkei rises 1.2 pct, Topix up 0.7 pct in active trade. *Sony jumps on report of assessing spin-off proposal.
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SYDNEY, May 22- Asian stocks rose on Wednesday following a positive lead from Wall Street with Japan's Nikkei reaching a 5-1/ 2 year high, while the yen took a defensive stance ahead of the outcome of the Bank of Japan's policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, reversing some of Tuesday's 0.4 percent decline.
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TOKYO, May 22- Japan's Nikkei average climbed to a 5-1/ 2- year high on Wednesday, ahead of the outcome of the Bank of Japan meeting, buoyed by the U.S. Dow Jones and S&P 500 indexes closing at record highs. The Nikkei rose 0.5 percent to 15,455.37, its highest since December 2007, while the broader Topix gained 0.5 percent to 1,276.91.
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FED WATCH: Stock indexes wobbled in early trading Tuesday, then turned higher just before noon. That's when news crossed that James Bullard, a Federal Reserve official, told an audience that the Fed should stick with its bond-buying effort to bolster the economy.
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NEW YORK, May 21- Stock markets around the world edged higher on Tuesday amid signs of improving growth, even though questions about monetary policy limited gains. The euro was slightly higher, though a slowdown in British inflation sent sterling to a 7- week low on the view it could give the Bank of England more leeway to support the economy.
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NEW YORK, May 21- U.S. stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as comments from Federal Reserve officials eased some concerns that the central bank could start reducing its stimulus program. The Dow Jones industrial average gained 52.30 points, or 0.35 percent, to end unofficially at a record 15,387.58.
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May 22- Sony Corp is considering evaluating a proposal from top shareholder Third Point LLC to spin off part of its movie and music business, Japanese daily Nikkei reported. Sony's U.S. listed shares rose 9 percent on Tuesday on the New York Stock Exchange.
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NEW YORK-- A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. Advanced Micro Devices Inc. fell. 9 percent to $4.07 with 23,047,800 shares traded. Bank of America Corp. fell. 4 percent to $13.46 with 65,492,500 shares traded.
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*Home Depot raises outlook, shares hit record intraday high. *JPMorgan shares hit highest since February 2001. NEW YORK, May 21- U.S. stocks gained on Tuesday as a record intraday high for Home Depot helped lift the blue-chip Dow, but investors were cautious a day ahead of congressional testimony from Federal Reserve Chairman Ben Bernanke.
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NEW YORK, May 21- U.S. Benchmark yields edged up, flirting with 2 percent, which was their highest level since mid-March, after Wall Street stocks touched new highs and nicked the appeal of low-yielding U.S. government debt. There is no reason to bid it before Bernanke, "said Eric Green, global head of rates and currency research and strategy at TD Securities in New York.
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NEW YORK, May 21- U.S. stocks opened slightly stronger on Tuesday after the S&P 500 hit yet another intraday record in the previous session, with markets expected to drift sideways ahead of Congressional testimony from Federal Reserve Chairman Ben Bernanke on Wednesday. The Dow Jones industrial average edged up 25.88 points, or 0.17 percent, at 15,361.16.