5/5, 10:31 AM (Source: TeleTrader)
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US higher premarket following Yellen backtrack

Equities in the United States traded higher in the premarket session on Wednesday, following US Treasury Secretary Janet Yellen's comments on interest rates. After saying that interest rates may go higher to stop the economy from overheating, Yellen walked back those comments saying that she doesn't predict nor recommend an interest rate increase and that those rates will stay low in the near future. Meanwhile, Lyft and T-Mobile released their quarterly earnings report, and traders will be looking forward to new economic data on employment and the services sector in the US coming later today.

The Dow Jones was up 0.31% at 4:30 am ET, while the Nasdaq 100 rose by 0.51% concurrently. The S&P 500 increased by 0.43% at the same time.

The euro declined 0.22% against the dollar trading for $1.19886 at 4:30 am ET.

Breaking the News / OL