US STOCKS-Wall St pares gains as Yellen omits reference to rate hike timing

lunes 6 de junio de 2016 13:20 GYT
 

* Fed Chair Janet Yellen sounds upbeat note on economy

* Financials rebound from Friday drop after jobs report

* Oil hits 6-month high, but pares gains on Yellen comments

* Indexes up: Dow 0.37 pct, S&P 0.21 pct, Nasdaq 0.27 pct (Updates to early afternoon)

By Yashaswini Swamynathan

June 6 (Reuters) - U.S. stocks pared some of their gains on Monday after Federal Reserve Chair Janet Yellen painted a mostly positive picture of the economy and said interest rates were still on their way, but was less specific on the timing.

Yellen said "positive economic forces have outweighed the negative", but was more vague in her references to the timing of a rate hike than she had been in early May when she said the Fed could move "in coming months".

Yellen's remarks, the last public comment from any U.S. central banker before a policy meeting next week, comes after Friday's dismal monthly jobs report raised concerns over the ability of the economy to absorb a rate hike as early as June.

Yellen called the jobs report "disappointing", but said "one should not attach too much significance to a single report."   Continuación...