Wall Street closes lower, posts weekly gains

NEW YORK (AA) – Wall Street closed lower Friday but managed to post weekly gains.

The Dow fell 35 points to close the day at 18,867 and the S&P lost five points to 2,181. The Nasdaq decreased 12 points to finish the day at 5,321.

For the week, however, the Dow rose 0.2 percent while the S&P was up 0.8 percent and the Nasdaq gained 0.8 percent.

Investors shifted their focus from the stock market Friday and went after short-term profits as the dollar posted gains against other major currencies.

Remarks a day earlier by Federal Reserve Chair Janet Yellen were the major reason behind the shift, analysts said.

Yellen painted a positive picture of the American economy in testimony before Congress and she signaled the increased likelihood of an interest hike next month.