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Wall St. closed mostly lower after volatile session

Friday, August 26, 2016 - 01:26

Investors wrestled to digest various comments from Fed officials creating a volatile final trading sesion of the week. Bobbi Rebell reports.

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Wall Street finished out Friday mostly lower. Stocks had traded higher after Fed Chair Janet Yellen said the case for a rate hike had strengthened, but gave back gains when the central bank's vice chair Stanley Fischer hinted at more than one rate hike this year. Earlier in the day, new data from the Commerce Department showed slower growth than earlier estimates in the second quarter. For the week stocks were lower. Jeoff Hall of Thomson Reuters IFR Markets. (SOUNDBITE) JEOFF HALL, MANAGING ECONOMIST, THOMSON REUTERS IFR MARKETS (ENGLISH) SAYING: "I think, the Fed really ought to follow through. I think, the bar is pretty high for them right now not to hike in December. I think, it would take a weak jobs report in September and October for them not to feel ok with a modest 25 basis hike come December. " Herbalife stock losing ground. Hedge fund manager Bill Ackman, who has bet more than $1 billion against the stock, said on CNBC he had been approached to buy shares by billionaire investor Carl Icahn. After the market close Carl Icahn disputed that and said he bought another 2.3 million shares of Herbalife. Gamestop taking a nosedive after reporting disappointing revenue, as many of its customers buy games online. Turning to Europe, stocks were higher on Friday, moving higher after Fed Chair Janet Yellen's comments.

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Wall St. closed mostly lower after volatile session

Friday, August 26, 2016 - 01:26