By Ovunc Kutlu
NEW YORK (AA) – The stock market opened higher Friday, but indexes had limited gains to begin the week’s last trading day.
At the first bell, the Dow added only eight points to reach 18,912. The S&P 500 was up by two points to 2,189, and the Nasdaq rose nine points to 5,343.
The limited increase in the indexes was due to the rising value of the U.S. dollar against other currencies, analysts said, adding that investors are more focused on buying the greenback than stocks.
The rise in the dollar on Friday came after the Federal Reserve Chair Janet Yellen’s remarks on Thursday, analysts added.
Speaking to Congress, Yellen painted a positive picture of the American economy, and also signaled the increased likelihood of a Fed rate hike next month.
