Wall St set to open higher after Yellen's dovish stance

US stocks close higher on dovish Yellen, Dow ends at record

The technology-heavy Nasdaq Composite Index added 1.1% to 6,261.17.

Bank of America, Goldman Sachs and Morgan Stanley will report results next week.

Among stocks, Target rose 4.5 per cent after the retailer gave an upbeat second-quarter forecast.

Second quarter earnings are expected to increase 7.9 percent from a year ago, after first-quarter earnings posted their best performance since 2011, according to Thomson Reuters I/B/E/S.

Aussie financials shot up 0.6 percent though their USA counterparts, which tend to benefit from higher rates, were last among sectors, closing up 0.1 percent.

US stocks closed modestly higher Friday, notching record highs for several major USA indexes.

Stocks edged higher in range-bound trading, as the financial and tech sectors helped lift the Dow to another record close. Target said its sales and customer traffic grew.

More news: MagnaChip Semiconductor Corporation (NYSE:MX) Given Consensus Recommendation of "Buy" by Brokerages

At 9:41 a.m. ET (1341 GMT), the Dow Jones Industrial Average was up 9.98 points, or 0.05 percent, at 21,563.07, the S&P 500 was up 3.63 points, or 0.14 percent, at 2,451.46.

Twenty-nine of 30 index members finished with gains, led by a 2.8% rise in DuPont (NYSE: DD).

Asian markets were mixed during Friday's trade after bond yields rose overnight and markets digested the second day of US Federal Reserve head Janet Yellen's testimony.

Winners and Losers: Shares of Sprint Corp. soared 4 percent after the Wall Street Journal reported the company's chairman, Masayoshi Son, met with Warren Buffett about an investment.

Delta Air Lines fell 2.5 percent after reporting a smaller profit and less revenue than analysts expected.

The Russell 2000 is up 12.98 points, or 0.9 percent.

Tiffany rose 1.9 percent as it named Alessandro Bogliolo, a veteran of the luxury industry, as its chief executive.

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