Federal Reserve Chairwoman Janet Yellen said an interest rate hike is likely this year, provided the economic data continue to show steady improvement. She did stress that tightening would go at a gradual pace. Yellen had a small health scare at the end of her speech when she paused and coughed. She sought medical attention and said she was just dehydrated. Apple’s (AAPL) new iphones hit stores today, accompanied by the typical excitement that surrounds iphone launches. Sales kicked off in Sydney, Australia. There are lines in Asia and the United States as well, although some say they are not as long as they’ve been in the past. Analysts expect Apple to sell 12 to 13 million new iPhones this weekend. Nike (NKE) has scored a slam dunk. It’s sales soared 30%, driven by China. Nike shares traded at an all time high after the quarterly report.
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