US STOCKS-Wall St up as Fed says on track to raise rates in 2015

miércoles 15 de julio de 2015 11:34 GYT

* Turmoil abroad unlikely to hit U.S. economy - Yellen

* Nasdaq biotech index hits record high on Celgene deal

* Bank of America rises after profit more than doubles

* Delta Air Lines warning weighs on airline stocks

* Indexes up: Dow 0.17 pct, S&P 0.2 pct, Nasdaq 0.36 pct (Adds details, changes comment, updates prices)

By Tanya Agrawal

July 15 (Reuters) - U.S. stocks were modestly higher on Wednesday, set for a fifth straight day of gains, after Federal Reserve Chair Janet Yellen said the turmoil abroad was unlikely to affect the U.S. economy and that the Fed was on track to raise interest rates this year.

Yellen said she expects the economy to grow steadily for the rest of the year, allowing the Fed to hike rates, but gave no direct hint on the timing or pace of a hike.

"A rate hike will be additive to the U.S. equities as the U.S. economy requires something other than crisis-era rates," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.   Continuación...