US STOCKS-Wall St up as Yellen eases concerns about economy

miércoles 10 de febrero de 2016 14:23 GYT

* Yellen sees no reason to reverse rate hike plan

* Tech stocks up after 3 days of losses

* Disney's steep drop after results caps Dow's gains

* Indexes up: Dow 0.34 pct, S&P 1 pct, Nasdaq 1.70 pct (Updates to early afternoon)

By Abhiram Nandakumar

Feb 10 (Reuters) - Wall Street was on track to snap a three-day losing run on Wednesday after comments by Federal Reserve Chair Janet Yellen eased investor concerns about the capacity of the economy to absorb a gradual rise in interest rates.

Yellen acknowledged that tightening financial conditions and uncertainty about China posed risks to the U.S. economy, but told Congress she does not expect the central bank to reverse the rate hike program it began in December.

The Fed expects economic growth to pick up in the current quarter, which would allow it to pursue its plan of "gradual" adjustments to monetary policy, she said.

Fears of a China-led global economic slowdown and oil's steep slide since the Fed raised rates in December have dampened the market's expectations for a hike in coming months.   Continuación...