Stocks edged higher as Fed Chair Janet Yellen presented her semiannual testimony on Capitol Hill. In an address to the House Financial Services Committee, Yellen reiterated the likelihood of an interest rate rise this year provided the economy continues to recover at its current pace. Yellen will address the senate banking committee on Thursday. Guess? (GES) shares were rallying after co-founder Paul Marciano announced he is stepping down as CEO effective August. He has held the position, either as sole or co-CEO, since 1999. Yum! Brands (YUM) slid after reporting its fourth straight month of sliding sales. The owner of KFC saw a 10% decline in same-store sales in key region China.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
