Stocks rose Friday to wrap up their strongest week in almost three months. Banks gained ground after Federal Reserve Chair Janet Yellen said the central bank intends to keep raising interest rates provided the economy continues to improve.
The Dow Jones industrial average gained 44.93 points, or 0.3 percent, to 17,873.22.
Asian shares edged down on Monday and the dollar marked fresh highs after Federal Reserve chief Janet Yellen suggested that an interest rate hike could be around the corner.
The U.S. central bank should raise interest rates "in the coming months" if economic growth picks up and the labor market continues to improve, Yellen said on Friday.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.25 percent as markets pondered the Fed outlook.
Japan's Nikkei stock index .N225 added 0.5 percent, as the yen weakened and expectations rose that the government would delay a sales tax hike scheduled for April next year.
Japanese Prime Minister Shinzo Abe plans to postpone the tax increase by two and a half years, until October 2019, a government official said on Sunday.
Reference: Reuters, CNBC
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