Wall Street opens higher as market awaits Yellen speech

NEW YORK (AA) – Wall Street opened higher Friday as the market awaits the Federal Reserve Chair Janet Yellen's speech later on Friday.

The Dow Jones started the day at 18,534, gaining 86 points. The S&P 500 was up nine points to open at 2,182 and the Nasdaq gained 22 points to 5,235.

Wall Street and the stock markets around the world are now focused on Yellen's speech later on Friday in Jackson Hole, Wyoming.

The U.S. stock market may see declines if Yellen positively signals on raising the Fed's benchmark interest rate this year, analysts warn.

If Yellen makes cautious statements about making a rate hike this year, the stock market is expected to end the last trading day of the week with gains, according to analysts.