(CNBC) U.S. stocks closed higher Friday, posting a solid week of gains, after Fed Chair Janet Yellen said that an interest rate hike in the next few months would probably be appropriate.
"The important thing is she is backing up what the minutes are saying and (recent Fed speakers) have been saying," Art Hogan, chief market strategist at Wunderlich Securities, said on CNBC.
The major averages came off highs with the Dow Jones industrial average briefly turning lower amid Yellen's remarks. The U.S. dollar index extended gains, rising half a percent to hit a fresh high going back to March 29.
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