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Markets Right Now: US stock indexes manage tiny gains

NEW YORK (AP) — The latest on developments in financial markets (All times local):

4:00 p.m.

Major U.S. stock indexes managed to eke out tiny gains on Wall Street after a day of wavering between small gains and losses.

Banks climbed Friday as investors priced in an increasing likelihood that interest rates will rise in the coming months.

Federal Reserve Chair Janet Yellen helped stoke those expectations in a speech in which she said an improving job market and rising inflation would likely prompt the Fed to increase borrowing costs.

KeyCorp and Comerica each rose 1 percent.

Other parts of the market lagged. Real estate companies fell the most.

The Standard & Poor's 500 index rose 1 point to 2,383. The Dow Jones industrial average edged up 2 points to 21,005. The Nasdaq composite increased 9 points, or 0.2 percent, to 5,870.

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11:45 a.m.

Real estate companies led stocks lower in midday trading, extending the market's losses from a day earlier.

Energy stocks bucked the trend Friday and rose as oil prices headed higher.

Investors were looking ahead to a speech by Federal Reserve Chair Janet Yellen in hopes of gleaning whether the central bank will raise interest rates again later this month.

Costco slid 3.9 percent after the warehouse club operator reported earnings that missed estimates.

The Standard & Poor's 500 index fell 3 points, or 0.2 percent, to 2,378. The Dow Jones industrial average lost 25 points, or 0.1 percent, to 20,978. The Nasdaq composite gave up 7 points, or 0.1 percent, to 5,853.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.51 percent.

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9:35 a.m.

Stocks are off to a mixed start on Wall Street ahead of a speech by Federal Reserve Chair Janet Yellen later in the day.

Investors will be listening for clues Friday on whether the central bank will raise interest rates again later this month.

Several companies were moving after reporting their latest quarterly results.

Costco slid 3.6 percent after the warehouse club operator reported earnings that missed estimates.

Marvell Technology rose 2 percent after the semiconductor maker's latest earnings and outlook beat estimates.

The Standard & Poor's 500 index slipped a fraction to 2,381. The Dow Jones industrial average gained 27 points, or 0.1 percent, to 21,027. The Nasdaq composite gave up 3 points to 5,858.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.49 percent.