US STOCKS-S&P, Dow dip after inflation rises; Yellen speech awaited

viernes 22 de mayo de 2015 12:49 GYT

* Yellen to speaks at 1:00 p.m. ET

* Core inflation at highest since January 2013

* Boeing biggest drag on Dow after Bombardier jet report

* Ctrip, Expedia hit record highs on stake sale deal

* Indexes: Dow down 0.24 pct, S&P off 0.11 pct, Nasdaq up 0.08 pct (Updates to early afternoon)

By Tanya Agrawal

May 22 (Reuters) - The S&P 500 and Dow fell in early afternoon trading on Friday, retreating from recent record highs, as investors await Federal Reserve Chair Janet Yellen's economic outlook for clues on the timing of a rate hike after new data showed a rise in inflation.

Yellen is expected to highlight the economy's steady job growth, while April's consumer price index data is likely to bolster Fed's case for its first policy tightening in nearly a decade. Yellen's speech will start at 1:00 p.m. ET (1700 GMT).

Consumer prices moderated last month, data showed, but the so-called core consumer price index, which strips out food and energy costs, posted its largest gain since January 2013.   Continuación...