US stocks rise as Wall Street waits for Greenspan

Stocks chalked up modest gains today in unusually light trading before Federal Reserve Chairman Alan Greenspan’s congressional testimony.

Greenspan, scheduled to testify before House and Senate committees tomorrow and Thursday, is expected to give a bullish report on the US economy and reiterate that the Fed can exercise patience in raising interest rates - something Wall Street would like to hear after last month’s Fed statement that indicated rates would eventually rise.