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With one trading session left in the first quarter of 2016, stocks on Wednesday gave growth investors a little more confidence to wade deeper into the market. The major indexes padded Tuesday's gains with a broad -- albeit mild -- advance. Volume declined.
U.S. stocks closed up for a third session in a row Wednesday following dovish comments from Federal Reserve Chairwoman Janet Yellen, helping the Dow Jones Industrial Average set a record for the most up days in a month in six years.
Speaking at the Economic Club of New York on Tuesday, Yellen stressed a need for a cautious stance on interest-rate increases. The remarks follow a shift in the Fed’s outlook since late last year, as the central bank cut its forecast of rate hikes to two from a prior projection of four.
In economic news, the private sector added 200,000 jobs in March, according to ADP, a modest deceleration from the prior month’s revised 205,000 and roughly in line with expectations.
The official monthly jobs report is due on Friday and economists polled by MarketWatch expect 205,000 new jobs created in March.
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