Wall Street rises modestly following Yellen speech

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US stocks rose slightly on Friday, lifted by high-dividend-paying stocks after Federal Reserve Chair Janet Yellen stayed silent on monetary policy in a much-anticipated speech.

Interest-rate sensitive sectors such as telecommunications, up 0.8 percent, and utility telecommunications, so as Yellen's speech did not comment on the path of interest rate hikes for the central bank, which sent US Treasury yields lower.

The worry still remains about the 10-year (benchmark Treasury note) rate, still below 2.2 percent," said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

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