US STOCKS-Wall St opens flat as Yellen's speech awaited

viernes 27 de mayo de 2016 09:41 GYT
 

* Second reading of Q1 GDP at 0.8 pct vs. 0.9 pct est.

* Yellen to speak at 1:15 p.m. ET

* GameStop drops after forecast falls short of expectations

* Ulta Salon jumps after raising full-year forecast

* Indexes up: Dow 0.11 pct, S&P 0.12 pct, Nasdaq 0.09 pct (Updates to open)

By Tanya Agrawal

May 27 (Reuters) - Wall Street opened little changed on Friday as cautious investors braced for a speech by Federal Reserve Chair Janet Yellen for clues on the timing of a U.S. interest rate hike.

Yellen is due to speak at an event hosted by Harvard University at 1:15 p.m. ET (1715 GMT). Her speech comes after a number of Fed policymakers this week struck hawkish tones on the trajectory of interest rates.

Investors have grown more comfortable with expectations that the central bank could raise rates as soon as June, with many taking the view that such a hike would reflect improvement in the country's economy.   Continuación...