Stocks Extend Weekly Winning Streaks As Rate Hike Looms

By Wallace WitkowskiMarketsMarketWatch Pulse

U.S. stocks finished higher for the week Friday and fractionally higher for the session as Federal Reserve Chairwoman Janet Yellen signaled a March rate hike was likely appropriate. The Dow Jones Industrial Average advanced 2.74 points to finish at 21,005.71, led higher by shares of Caterpillar Inc. and Merck & Co . For the week, the Dow closed up 0.9%, for a fourth week of gains. The S&P 500 index closed 1.20 points higher at 2,383.12, with financial and health-care stocks leading gains. For the week, the S&P 500 closed up 0.7%, for a sixth winning week. The Nasdaq Composite index finished up 9.53 points, or 0.2%, at 5,870.75, for a 0.4% gain on the week, notching a sixth straight week of gains.

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