US STOCKS-Wall St rises as Yellen hints at "gradual" rate hikes

miércoles 10 de febrero de 2016 10:49 GYT
 

* Yellen sees "gradual" adjustments to monetary policy

* Banks stocks rise; Goldman gives biggest boost to Dow

* Disney falls as ESPN profit drops

* Futures up: Dow 0.35 pct, S&P 0.59 pct, Nasdaq 0.87 pct (Updates to open)

By Abhiram Nandakumar

Feb 10 (Reuters) - Wall Street was higher on Wednesday, led by financial stocks, after Federal Reserve Chair Janet Yellen said conditions in the United States would allow the Fed to pursue "gradual" adjustments to monetary policy.

However, tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the U.S. economy off track from an otherwise solid course, Yellen said in a prepared testimony to Congress.

Uncertainty over interest rates had hit bank stocks in recent days. Banking stocks were up, led by Citigroup. Goldman Sachs, up 1.3 percent, gave the biggest boost to the Dow. The S&P financial sector was up nearly 1 percent.

Yellen is scheduled for an appearance before the House Committee on Financial Services at 10:00 a.m. ET (1500 GMT).   Continuación...