Stocks: Basking in the Yellen afterglow

Written By limadu on Jumat, 15 November 2013 | 04.32

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NEW YORK (CNNMoney)

U.S. stock futures were inching higher ahead of the opening bell.

U.S. stocks finished slightly higher Thursday, with the Dow Jones Industrial Average and S&P 500 hitting fresh record levels, after Yellen told U.S. senators the central bank's massive bond-buying program could still help the economy.

Related: Fear & Greed Index

Looking ahead to Friday, the New York branch of the Federal Reserve will release its monthly manufacturing survey at 8:30 a.m. ET. At 9:15, the Fed will release data on industrial production and capacity utilization.

Shares in Exxon Mobil (XOM, Fortune 500) are expected to pop after it was revealed that Warren Buffett's Berkshire Hathaway (BRKA, Fortune 500) made a big bet on the company, buying roughly 40 million Exxon shares -- worth $3.74 billion at Thursday's closing price.

There are no major corporate earnings announcements slated for Friday.

European markets were mixed in morning trading, with shares on London's FTSE 100 index edging higher while the main indexes in France and Germany moved slightly lower.

All the main Asian markets ended with decent gains. The main indexes in Tokyo, Hong Kong and Shanghai all pushed up by nearly 2%, in part bolstered by the dovish talk from Yellen. To top of page

First Published: November 15, 2013: 5:10 AM ET


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