It was a quiet Friday to end a quiet week as it seems most of Wall Street left for the Hamptons last weekend. The S&P 500 fell 0.22% and the NASDAQ 0.03%. Stocks moved little following an afternoon speech by Federal Reserve Chair Janet Yellen that said a rate hike would be appropriate this year if the economy improves. She noted that first quarter weakness was largely transitory and that it would take several years for rates to return to normal. The Labor Department said its Consumer Price Index (CPI) rose 0.1 percent last month, with the core figure discounting food and energy costs up 0.3 percent, for the largest gain since January 2013.Continue reading
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