July 13, 2017
Janet Yellen, concluding her semi-annual testimony to Congress, conceded that wage pressures are weak but still sees inflation holding over the 2 percent line. Producer prices, after another month of weakness, are right at the 2 percent line. The Dow posted a small gain to a new record 21,553 while oil continues to firm, now back over $46. Interest rates and the dollar were little changed.