Don't Start Your Weekend Yet: Yellen Speaks Friday - Ways2Capital

Fed Chair Janet Yellen speaks just before the closing bell Friday, and you can bet Wall Street will delay the start of its weekend to listen.

Conflict in Yemen, fears of a weak economy and declining earnings were all factors at play in the stock market Thursday. Shares were weak on the open after Wednesday's steep selloff. They then recovered in the afternoon, before falling into the close.

The Dow dropped 40 to 17,678, erasing a triple-digit loss, and the S&P 500 was off nearly 5 at 2,056. "I think it's kind of normal profit-taking. I think eventually the economic data is going to rebound and the corporate profits will come in OK, and that will take the market higher," said Andrew Burkly, head of institutional portfolio strategy at Oppenheimer Asset Management.

The market has been worried in the past several sessions about forecasts for a decline in S&P 500 earnings this quarter—the first in six years. The strong dollar and falling oil prices are blamed for the dip in corporate profits.

Treasury yields, however, were higher as bonds also sold off Thursday, and the 10-year crossed above the key 2 percent level for the first time since March 18, the day of the Fed's meeting.

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