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Wall Street set to soar in response to Yellen speech

IN THE NEWS TODAY

Dow futures surged more than 200 points this morning, after Fed Chair Janet Yellen left the door open for an interest rate hike this year, which was taken to mean the global economy might not be that big a concern afterall. (CNBC)

Yellen had a brief health scare last night—pausing and coughing toward the end of her speech. The Fed chief received medical attention, and central bank officials said she's fine. (CNBC)

Volkswagen is scheduled to announce its next chief executive today, as the embattled German automaker looks to clean house after admitting to cheating in U.S. emissions tests. (CNBC)

The new iPhone 6s and 6s Plus are available in four colors and 12 countries including the U.S., U.K., and China starting today. The global concerns about China have hit Apple shares (AAPL) hard in the past three months. (CNBC)

During a White House summit with President Barack Obama today, Chinese President Xi Jinping is expected to make a landmark commitment to create a cap-and-trade system to limit carbon emissions. (NY Times)

Pope Francis called for "courageous actions" on climate change, poverty, and the refugee crisis in Thursday's historic Capitol Hill address. The pontiff begins this morning in New York City with a speech at the U.N. (CNBC)

President Obama and Russian leader Vladimir Putin plan to meet in New York City at the annual session of the United Nations General Assembly next week at a time of high tension in Europe and the Mideast. (Reuters)

Republican presidential candidate Jeb Bush told CNBC that despite an underwhelming performance so far, he's not about to slow down now and he's "all in."

BY THE NUMBERS

Following Yellen's speech, there are two more Fed speakers out and about today. St. Louis Fed President James Bullard and Kansas City Fed President Esther George are both going to be speaking during the trading day.

Investors get a look at the third and final estimate of second quarter GDP this morning at 8:30 a.m. ET, which is expected to remain at an annual rate of 3.7 percent.

The University of Michigan's final September consumer sentiment index, out at 10 a.m. ET, is seen rising to 86.2 from the preliminary 85.7, but down from the final August 91.9 reading.

Oil services giant Baker Hughes releases its weekly rig count report at 1 p.m. ET—looking at the activity surrounding the development and exploration of crude and natural gas in the U.S. and Canada.


STOCKS TO WATCH

BlackBerry (BBRY) and Finish Line (FINL) are out with earnings this morning, but there are no major companies scheduled to release quarterly numbers after today's closing bell.

In late Thursday earnings news: Dow component Nike (NKE) reported earnings and revenue that topped expectations. The sports apparel company also issued strong future orders numbers.

Pier 1 Imports (PIR) posted lower than expected results for its latest quarter, and the household goods retailer also cut its earnings forecast for the full year.

Bed Bath & Beyond (BBBY) matched estimates with quarterly profit, but sales were below estimates, and same-store sales increased by a lower than expected 0.7 percent compared to the prior year.

WATERCOOLER

Responding to moves from competitors, Verizon (VZ) is announcing a program to let iPhone customers upgrade to a new phone every year if they've paid off half of the cost of their device and turn in their old one. (Re/code)

Amazon (AMZN) is celebrating its first Emmy win by offering discounted Prime memberships for $67 to new members, today only. Meanwhile, the tech giant launched its video service in Japan, along with its Fire TV line of products. (USA Today & Venture Beat)