US STOCKS-Wall St treads higher as focus shifts to Fed

miércoles 15 de junio de 2016 11:32 GYT

* Fed Chair Janet Yellen to speak at 2:30 p.m. ET

* May producer price index up 0.4 pct vs est 0.3 pct

* Indexes up: Dow 0.38 pct, S&P 0.37 pct, Nasdaq 0.40 pct (Adds details, comments, updates prices)

By Yashaswini Swamynathan

June 15 (Reuters) - Wall Street moved higher on Wednesday after four days of losses as lower chances of an interest rate hike whet investor appetite for risk.

The Federal Open Market Committee (FOMC) will release a policy statement at 2:00 p.m. ET (1800 GMT). Fed Chair Janet Yellen is scheduled to hold a press conference at 2:30 p.m. ET.

Yellen had hinted at higher chances of a rate hike than the markets had priced in, but weak May jobs data and economic repercussions of a possible Brexit forced her to take a dovish stance last week.

"The Fed is trying to walk a fine line here," said Art Hogan, chief market strategist at Wunderlich Securities in New York. The Fed does not want the market to discount a rate hike this year, he said.

Traders see a less than 40 percent chance of an interest rate increase until December, according to CME Group's FedWatch tool.   Continuación...