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Wall Street gains on US Fed chair Janet Yellen's remarks, tax reform hope

S&P 500, Dow on course to snap a 2-week losing streak; Nasdaq poised for 1st week gain


Wall Street was higher in late morning trading on Friday as investors perceived Federal Reserve Chair Janet Yellen's remarks as dovish and on news that President Donald Trump will turn his attention to long-awaited tax reform next week. All the 11 major S&P sectors were higher. The S&P 500 and the Dow on course to snap a two-week losing streak, while the Nasdaq was poised to post its first week of gain in five. Yellen, as widely expected, did not mention monetary policy in her speech at the annual conference of global central banks' chiefs in Jackson Hole, ...

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First Published: Fri, August 25 2017. 21:10 IST