US STOCKS-Wall St up as energy, financials gain ahead of Yellen talk

lunes 6 de junio de 2016 10:06 GYT
 

* Fed Chair Janet Yellen to speak at 12:30 p.m. ET

* Traders see 30 pct chance of July rate hike

* Wal-Mart up 0.5 pct after Jefferies upgrade

* Indexes up: Dow 0.34 pct, S&P 0.24 pct, Nasdaq 0.11 pct (Updates to open)

By Yashaswini Swamynathan

June 6 (Reuters) - Wall Street was higher on Monday morning, buoyed by energy stocks and a rebound in financial stocks following a pounding on Friday after a dismal jobs report all but ruled out chances of an interest rate hike in June.

Federal Reserve Chair Janet Yellen, who recently signaled that a rate hike could come as soon as June, is schedule to speak at 12:30 p.m. ET (1630 GMT) and investors will scrutinize her comments for clues on the timing of the next rate hike.

Expectations for a hike were pushed back to at least July after May non-farm payrolls data on Friday showed employers added far fewer jobs than economists expected.

Many traders suspect Yellen might craft her message to keep expectations for a July hike alive. The speech is likely to be her last before the Fed enters a media blackout period ahead of the its monetary policy meeting on June 14-15.   Continuación...