Record closes on Tuesday for the Dow Jones Industrial and the S&P 500. Stocks rose on dovish remarks from Fed Chairwoman Janet Yellen to the Senate Banking Committee. She is set to address the House Financial Services Committee on Wednesday. Oil dropped just $0.17 ahead of Wednesday’s inventory data. Crude prices reversed from their lows after production was halted at Libya’s largest oilfield. Home Depot (HD) was by far the best performing blue chip on better than expected earnings. Positive earnings results along with boosted guidance pushed shares of Toll Brothers (TOL) higher. Casino stocks suffered major losses. Las Vegas Sands (LVS), MGM (MGM) and Wynn (WYNN) all closed sharply lower. Investors pulled away after a Barron’s report that China may put a cap on the number of mainland visitors they’ll allow to Macau.
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