(CNBC) -- The S&P 500 and Nasdaq Composite rose marginally on Tuesday — eking out fresh record closing highs — as investors digested testimony from the top U.S. central banking official and assessed the potential economic impact of the coronavirus.
The broad index closed 0.2% higher at 3,357.75. The Nasdaq was up 0.1% at 9,638.94. The Dow Jones Industrial Average rose as much as 138 points before closing flat at 29,276.34. The three major averages hit intraday records earlier in the day.
Federal Reserve Chairman Jerome Powell testified in front of the House Financial Services Committee that the central bank is “closely monitoring” the coronavirus situation for a potential hit to China and the global economy. During the Q&A portion of his testimony, Powell noted it is “too early to say” how the coronavirus will ultimately impact the U.S. economy.
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