U.S. equities closed higher Tuesday, posting new record highs, as investors digested testimony from the top Federal Reserve official.
"The markets were anxiously awaiting Chair Yellen's comments, but not expecting anything out of the ordinary," said Myles Clouston, senior director at Nasdaq Advisory Services. "There's also some momentum chasing the market higher; we are at all-time highs."
The Dow Jones industrial average rose about 90 points, with Goldman Sachs contributing the most gains. The S&P 500 gained 0.4 percent, with financials outperforming, notching its 15th record close since Nov. 8. The Nasdaq composite advanced 0.3 percent, as Apple reached an all-time intraday high.
"It was expected of her to be a little hawkish," said Adam Sarhan, CEO of 50 Park Investments. "From her perspective, the stock market is at all-time highs and the economic data is improving, so it's very prudent for her to be hawkish."