"The market does not want uncertainty, and she certainly didn't deliver any surprises," said Dorothy Weaver, co-founder of Collins Capital and former chairman of the Federal Reserve Bank in Miami.

 

"She hit the right notes; the theme of the day is continuity. If there were one area where she made news, it was her view that cyclical issues are still hanging over the economy, and additional Fed stimulus is likely," said Dan Greenhaus, chief global strategist at BTIG.

 

The market rally is "principally due to the fact that Janet Yellen did nothing to spook the market, directly or inadvertently. In fact, she did quite the opposite. I think the market is relieved by her commentary, that she's going to remain extremely accommodative," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.