Stocks Ended Mostly Higher Following Yellen Speech

U.S. stocks ended mostly higher on Friday, after Federal Reserve Chair Janet Yellen stayed silent on monetary policy in a much-anticipated speech. The Dow Jones Industrial Average rose 30.37 points, or 0.14%, to 21,813.67. The S&P 500 advanced 4.08 points, or 0.17%,to 2,443.05. The Nasdaq Composite was down 5.68 points, or 0.09%, to 6,265.64. For the week, the Dow gained 0.6%, the S&P 500 added 0.7% and the Nasdaq rose 0.8%.

Yellen’s speech at the annual meeting of central bankers in Jackson Hole, Wyoming focused on financial stability while giving no hint on monetary policy, leaving the prospect of more interest rate hikes up in the air.

Oil prices settled higher on Friday, as Hurricane Harvey, bearing down on the Gulf Coast, threatened to disrupt refinery activity, as well as energy production and demand. October West Texas Intermediate crude oil added 44 cents, or 0.9%, to$47.87 a barrel. October Brent crude rose 37 cents, or 0.7%, to $52.41 a barrel.