US STOCKS-Wall St rises as Yellen eases fears of slowing growth

viernes 25 de septiembre de 2015 11:26 GYT

* Yellen expects Fed to hike rates later this year

* Bank stocks rise on Yellen comments

* Q2 GDP revised upwards, backing case for rate hike

* Nike jumps after results; biggest boost on the Dow, S&P

* Indexes up: Dow 1.25 pct, S&P 0.87 pct, Nasdaq 0.68 pct (Adds details, comment, updates prices)

By Tanya Agrawal

Sept 25 (Reuters) - U.S. stocks were higher in late morning trading on Friday after Federal Reserve Chair Janet Yellen said she expects interest rates to be raised this year, easing concerns about slowing global growth and prompting a rally in bank shares.

Nike's surprisingly strong results in China pushed its shares up nearly 10 percent to a record high, giving the biggest boost to the Dow and the S&P.

Data showing that the U.S. economy expanded more than previously estimated in the second quarter added to the positive tone and backed the case for a rate hike before the end of 2015.   Continuación...