US STOCKS-Wall St gains as Yellen says rate-hike case strengthens

viernes 26 de agosto de 2016 11:40 GYT

* Yellen gives no indication of rate hike timing

* Financial stocks set for best day in three weeks

* Herbalife drops on report of Icahn's planned stake sale

* Indexes up: Dow 0.45 pct, S&P 0.47 pct, Nasdaq 0.54 pct (Adds details, comments, updates prices)

By Yashaswini Swamynathan

Aug 26 (Reuters) - Wall Street rose on Friday after Federal Reserve Chair Janet Yellen said the case for increasing interest rates had strengthened, but did not indicate when the Fed would raise rates.

Yellen said the economy was nearing the central bank's goals of maximum employment and price stability, but maintained that future hikes should be "gradual".

U.S. stocks nearly flat-lined immediately after Yellen's comments, but surged soon after, with all 10 major S&P 500 sectors trading higher.

"She's certainly tried to make a case, but the market doesn't believe that the Fed is going to actually raise rates," said Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management.   Continuación...