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After Yellen, investor eyes shift to housing

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Housing data will take investor focus on Wednesday as repeated presentation of Fed Chair Janet Yellen's dovish remarks and subdued geopolitical news keep the U.S. economy, and its indications for an interest rate hike, in the spotlight.

"Tomorrow's testimony will be less impactful than today's," said Art Hogan, chief market strategist at Wunderlich Securities. "It appears to be a solid weak of housing-related data."

In the second day of semi-annual congressional testimony, Yellen will address the House Financial Services Committee on Wednesday.