Global stocks higher ahead of Yellen testimony

European shares and U.S. stock futures track Asia higher as investors await Janet Yellen's first Congressional appearance since becoming Fed Chair earlier this month.

At a hearing before a House panel today, Yellen is expected to reiterate the bank's plan to continue tapering its QE program, although investors will be keeping an ear open for any indications of a change of course following disappointing U.S. jobs and other economic data.

"Price action suggests that markets are preparing for a dovish commentary (from Yellen), increasing the risk of disappointment," Barclays analysts say.

Euro Stoxx 50 +1.1%, London +0.8%, Paris +0.9%, Frankfurt +1.3%, Milan +0.6%, Madrid +0.8%.

U.S. stock futures: Dow +0.5%. S&P +0.5%. Nasdaq +0.5%

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