"There is some consolidation after the very active and positive week for stocks based on news flow from the central banks, said David Donabedian, chief investment officer of Atlantic Trust Private Wealth Management.Fed Chair Janet Yellen said on Wednesday that US growth was looking stronger and rate increases would be needed to keep the economy from overheating and fueling high inflation. But the central bank maintained the low-interest rate environment that has helped underpin the bull market for stocks.The S&P 500 index notched its best two-day performance in more than two months on Thursday.The US central bank had hinted that it might raise rates before the year ends and interest rate futures were pricing in roughly a 60 percent chance of a rate increase by December. "Barring any major changes in economic data or market volatility, we think a December rate hike is on the cards. The underlying message from the Fed this week was that they want to raise rates," Donabedian said.At 9:36 a.m. On the Nasdaq, 1,232 issues fell and 946 advanced.The S&P 500 index showed two new 52-week highs and no new lows, while the Nasdaq recorded 19 new highs and five new lows.

Source: Economic Times September 23, 2016 14:03 UTC