Looking ahead, investors are awaiting a host of US economic indicators, including core inflation, retail sales and industrial production for June later in the session for more insight into how the Fed might proceed.
The Dow and S&P 500 both closed at new records while gauges of global stock markets also scaled fresh highs, capping their best week in more than two months. Retail sales unexpected fell 0.2 percent in June while the University of MI consumer sentiment survey missed expectations at 93.1 versus 95 forecast by economists. The trade-weighted index was little changed at 78.11.
Among other precious metals, silver prices dropped 0.4 percent to $15.60 per ounce. The prospects of a hike to the fed funds rate in December is now sitting at 45 percent even though the Fed's guidance is for a third hike this year.
The measure of wireless phone costs fell 0.8 percent in June and is down 13.2 percent in the past year.
Aussie reaches 2-year high on United States weakness
Joe Duran, CEO of United Capital, said on "Closing Bell" he does not think the Fed will raise rates again this year, despite what Yellen has said.
The 0.2% fall in retail sales was the big surprise and has added to scepticism that the Fed is on top of what is actually happening in the economy.
"She seemed wary of recently slowing inflation and suggested that rates won't need to rise much further to get to a neutral setting", he said. Prices have been posting gains since a solid U.S.jobs report issued late last week, which backed the argument for higher interest rates although likely not at a more aggressive pace than the go-slow approach the Fed has signaled.
As a result the FT said the market-implied odds of a third rate increase in 2017 fell below 50% on Friday, "and the dimming prospects weighed on the greenback" and helped the Aussie dollar to 17 month highs.
Charlie Ward Knocked Out With A Throw At UFC Glasgow
Danny Henry rallied from behind in his debut to secure a unanimous decision win over Daniel Teymur after a hellish three rounds. England's Galore Bofando pulled off a freakish knockout when he stopped Charlie Ward at UFC Glasgow.
Israel says to reopen Al Aqsa Mosque on Sunday
More than 300 Palestinians have lost their lives at the hands of Israeli forces since October 2015, when the tensions intensified. Jaffa Gate, heavily used by tourists and near the Old City's Jewish Quarter, was open but with a heavy police presence.
Skydiver Told Wife He Wasn't Going to Pull Cord
Neither The Daytona Beach News-Journal nor the Orlando Sentinel were able to reach Capotorto's wife for comment. Richards immediately radioed the plane, according to a police report, but Vitantonio, 27, had already jumped.
A Long Lost 'GOT' Character Is Returning In Season 7!
However, among all the dragons and deaths, author #GeorgeRRMartin is particularly bummed about one big change from his novels. Essentially he's got a problem: He's leader, and she's testing him, and as a leader you can't have someone question you.