Stocks Ended Mostly Lower after Yellen, Fischer Statements

U.S. stocks closed mostly lower on Friday, with the Dow and the S&P 500 in the red, as investors digested statements made by Federal Reserve Chair Janet Yellen and Vice Chairman Stanley Fischer. The Dow Jones Industrial Average fell 53.01 points, or 0.29%, to 18,395.40. The S&P 500 fell 3.43 points, or 0.16%, to 2,169.04. The Nasdaq Composite rose 6.71 points, or 0.13%, to 5,218.92.

Federal Reserve Chairwoman Janet Yellen on Friday said the case for another interest-rate hike is strengthening, sending a strong signal the U.S. central bank is preparing to increase rates as soon as next month.Fischer, in an interview with CNBC, said Yellen’s speech was “consistent” with a possible two rate hikes this year.

The world’s largest brewer, AB Inbev, expects to cut about 3 percent of its total workforce — equivalent to thousands of jobs — once it completes its huge takeover of its closest rival, SABMiller.

Oil futures managed to hold on to a modest gain on Friday, but finished well off the session’s highs as the U.S. dollar moved sharply higher.October West Texas Intermediate crude rose 31 cents, or 0.7%, to settle at $47.64 a barrel. October Brent rose 25 cents, or 0.5%, to $49.92 a barrel.