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Tuesday trade all about Janet Yellen

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Yellen's impact on the market

On Tuesday, Wall Street's eyes will be fixed on Capitol Hill, where Federal Chair Janet Yellen, a little more than a week after taking the job previously held by Ben Bernanke, testifies on monetary policy and the nation's economic outlook.

Yellen's appearance is of particular interest because it comes on the heels of two weak monthly jobs reports and a spate of market volatility largely tied to turmoil in emerging markets.

In addressing the House Financial Services Committee, the Fed chair could disclose a good deal about her views "on economic and policy trade-offs and the degree to which her views on the economy have evolved in the face of a faster-than-expected decline in the unemployment rate," wrote David Kelly, chief global strategist at JPMorgan Funds.

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