US STOCKS-Wall Street trims gains as focus shifts to Yellen

viernes 14 de octubre de 2016 13:03 GYT

* Fed Chair Yellen set to speak at Boston conference

* Indexes set for second weekly loss in a row

* Microsoft rises after Cowen lifts price target

* Indexes up: Dow 0.3 pct, S&P 0.11 pct, Nasdaq 0.09 pct (Updates to early afternoon)

By Yashaswini Swamynathan

Oct 14 (Reuters) - Wall Street trimmed gains sharply on Friday as financial stocks lost steam and focus shifted to Federal Reserve Chair Janet Yellen's speech.

The S&P 500 financial index was up 0.44 percent, after rising as much as 1.5 percent following JPMorgan, Citigroup and Wells Fargo market-beating results.

However, Wells Fargo shares fell 0.7 percent as the bank struggles with a sales scandal that cost Chief Executive John Stumpf his job. JPMorgan and Citi were flat.

Yellen is due to speak at a conference in Boston where she could offer her thoughts on the growing support for an interest rate hike in the near term.   Continuación...