U.S. stocks rose Tuesday as investors were relieved to hear Federal Reserve Chairwoman Janet L. Yellen say the Fed would remain cautious in raising interest rates. The price of oil rose about 7% over the last two days. Yellen told the Senate that the Fed will proceed cautiously in raising interest rates because of the uncertainties facing the U.S. economy. Although Orlando expects the price of oil to decline further, he said oil companies will still be able to make money if oil trades between $40 and $60 a barrel. “The market seems to have responded well to Dr. Yellen's tone of caution,” said Phil Orlando, chief equity strategist for Federated Investors.

Source: Los Angeles Times June 21, 2016 15:11 UTC