Wall Street barely gains as traders digest earlier gains, Fed comments By Reuters

By Sinéad Carew and Shristi Achar A

(Reuters) – Wall Street’s three major indexes edged up slightly on Friday as investors digested recent gains while remarks from Federal Reserve officials clouded the outlook about when the U.S. central bank might start cutting interest rates.

Vice Chair for Supervision Michael Barr said he believes the Fed is at or near the peak of interest rate hikes, but San Francisco Fed chief Mary Daly and Boston Fed President Susan Collins highlighted the need for more evidence of cooling inflation.

Adding pressure, shares of Applied Materials (NASDAQ:) fell 4% after its third-quarter report and news the U.S. Justice Department is investigating allegations that the semiconductor equipment maker violated export curbs to China.

Offering equities some support was a decline in the 10-year Treasury note yield, which touched a roughly two-month low during the session.

The , the Nasdaq and the Dow registered their third straight week of gains. For the S&P and the Dow it was the longest weekly winning streak…