WALL STREET SLIPS
Federal Reserve Bank Vice Chairman Stanley Fischer said that any hikes that would happen would most likely be put into effect next month. Fischer’s comments came after Federal Reserve Chairwoman Janet Yellen’s speech which contradicted the point Fischer made. Yellen asserted that hikes should be gradual. The implications brought forth by the Vice Chairman caused Wall Street to about face and trade lower on Friday. The S&P 500 was trading lower in nine of its sectors, with Financials falling the least. All three of the major indexes traded lower after Fischer’s comments.