iStock/Thinkstock(NEW YORK) — Wall Street closed slightly higher Friday after Federal Reserve Chairwoman Janet Yellen said raising interest rates this month “would likely be appropriate.”
The Dow gained 2.74 (+0.01 percent) to finish at 21,005.71
The Nasdaq jumped 9.53 (+0.16 percent) to close at 5,870.75, while the S&P 500 finished at 2,383.12, up 1.20 (+0.05 percent) from its open.
Crude oil prices were up about 1 percent at $53 a barrel.
Federal Reserve: During a speech in Chicago on Friday, Yellen signaled an interest rate hike could be coming soon after the U.S. central brank raised its benchmark rate in December.
“At our meeting later this month, [the Federal Open Market Committee] will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate,” she said.
Winners and Losers: In a second day of trading, shares of Snap Inc soared nearly 11 percent after the parent company of Snapchat debuted up 44 percent.
Abercrombie & Fitch Co sunk 8 percent after its fourth-quarter revenue fell below investors’ expectations.
Airline stocks performed well Friday after the U.S. Department of Transportation suspended collecting public comments in the Obama administration’s review of airfare transparency rules. American Airlines jumped over 2 percent, Delta Air Lines was up less than .5 percent, and Southwest finished more than 2 percent higher.
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