U.S. stocks closed higher Tuesday as new Federal Reserve (Fed) Chair Janet Yellen stressed that monetary policy is unlikely to change much under her leadership. In U.S. economic news, Yellen testified before the House of Representatives Financial Services Committee. It was her first appearance since taking the helm of the central bank earlier this month. Yellen said that the Fed plans to continue easing its stimulus program, a big driver of the 2013 stock market rally. She reiterated several times during the question and answer session that it would take a notable change in economic data for the Fed to change its plans. In international economic news, European markets finished higher, while Asian markets closed with sizable gains. The Dow Jones industrial average climbed 192.98, or 1.22 percent, to 15,994.77. The broader Standard & Poor's 500 index rose 19.91, or 1.11 percent, to 1,819.75. The technology-heavy Nasdaq composite index gained 42.88, or 1.03 percent, to 4,191.05.
