US STOCKS-Wall St higher; financial stocks lead
* 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
* Macy's rises after Starboard announces stake
* Indexes up: Dow 0.07 pct, S&P 0.09 pct, Nasdaq 0.16 pct (Updates to early afternoon)
By Tanya Agrawal
July 15 (Reuters) - U.S. stocks were marginally higher in afternoon trading 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.
Bank of America rose 3 percent to $17.66, poised for its best day in five months, after reporting its biggest quarterly profit in nearly four years. The stock was the biggest boost to the S&P 500 financial index, which was the top gainer among the 10 major S&P 500 sectors.
Celgene jumped as much as 10.7 percent to a record high of $135.98 after the company said it would buy Receptos to get a potential multibillion-dollar drug. Celgene's gains helped push the Nasdaq biotech index to hit a record high for the third time in three weeks. Continuación...