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Fri 3:51 pm

Wall Street wavers as inflation firms, Yellen expects rate hike this year

U.S. stocks seesawed after data showed inflation firming and Federal Reserve Chairwoman Janet Yellen said she expects to raise interest rates this year, though the pace of further increases will be gradual. The S&P 500 (INDEXSP:.INX) skidded less than 0.1 percent to 2,130 at 3:39 p.m. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) fell 0.1 percent to 18,264, while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) rose 0.2 percent to 5,098. 

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