Slight gains push US stocks to record highs; Home Depot up

Source: AP-Excite

By ALEX VEIGA

The Dow Jones industrial average and Standard & Poor's 500 index delivered new highs Tuesday, beating marks they set last week.

The Nasdaq composite also built on its gains for the year, finishing higher for the 10th day in a row.

The latest milestones came as investors liked what they heard from Federal Reserve Chair Janet Yellen, who told Congress the central bank would be patient about raising interest rates as the economy improves.

"Markets had been very focused on the Yellen testimony and wanted to see if there was going to be any change in the outlook for the first Fed rate hike," said David Lefkowitz, senior equity strategist for UBS Wealth Management Research. "The short answer to that is, not really. The Fed is, at a minimum, not going to do anything imminently."

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Traders work on the floor of the New York Stock Exchange, Tuesday, Feb. 24, 2015. The U.S. stock market is back at a record high as traders are encouraged by the latest news on interest rates, Greece and corporate earnings. The Dow Jones industrial average rose 92 points, or 0.5 percent, to close at 18,209. (AP Photo/Richard Drew)

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