Stocks opened mostly lower on Friday as investors awaited comments from Federal Reserve Chairwoman Janet Yellen and Vice Chairman Stanley Fischer. The S&P 500 index slipped two points, or 0.1%, to 2,380, while the Dow Jones Industrial Average was flat at 21,006. The Nasdaq Composite Index shed seven points, or 0.1%, to 5,854. Caterpillar Inc. shares eased amid reports of a raid by federal authorities. Shares of Big Lots Inc. rose after the company beat profit expectations but missed sales forecasts. In other markets, the Mexican peso soared to a new postelection high against the dollar following comments from Commerce Secretary Wilbur Ross. The market-based probability of an interest-rate hike at the Fed's coming March meeting were above 75% on Friday, compared with around 30% a week ago, as a bevy of Fed speakers appeared to signal that a rate hike was likely. Investors will be watching to see if Yellen and Fischer confirm this view.
Continue Reading Below
Copyright © 2017 MarketWatch, Inc.