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WALL STREET TRIMS GAINS AS FOCUS SHIFTS TO YELLEN


Wall Street trimmed gains sharply on Friday as financial stocks lost steam and focus shifted to Federal Reserve Chair Janet Yellen's speech.The S&P 500 financial index .SPSY was up 0.44 percent, after rising as much as 1.5 percent following JPMorgan (JPM.N), Citigroup (C.N) and Wells Fargo (WFC.N) market-beating results.However, Wells Fargo shares fell 0.7 percent as the bank struggles with a sales scandal that cost Chief Executive John Stumpf his job. JPMorgan and Citi were flat.Yellen is due to speak at a conference in Boston where she could offer her thoughts on the growing support for an interest rate hike in the near term.

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#Wallstreet #Yellen #FinancialIndex #Boston

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