Six of the 11 major S&P sectors were higher, with the S&P 500 financial index leading the gainers. Yellen's speech comes after several other Fed officials this week painted an upbeat picture of the US economy, stoking market expectations for a March rate hike. "We suspect she will likely suggest a rate hike this month," Peter Cardillo, chief market economist at First Standard Financial, wrote in a note. US stock markets closed down on Thursday, as financials declined after surging a day earlier on increased expectations of a rate hike this month. The S&P 500 index showed two new 52-week highs and no new lows, while the Nasdaq recorded 24 new highs and 12 new lows.

Source: The Edge Markets March 03, 2017 15:56 UTC