YELLEN SPEAKS, STOCKS RISE THEN FALL: Here's what you need to know

Stocks gave up serious early gains for a wild swing during a day that was full of speeches from members of the Federal Reserve.

The Dow was over 100 points into the green on Friday directly following Federal Reserve Chair Janet Yellen's speech at the Jackson Hold conference. After hawkish comments from Vice Chair Stanley Fischer and others, however, all the major averages dove lower and ended the day in the red.

The moves, however, keep the now 35 day streak without a 1% move in either direction by the S&P 500 intact.

We've got your round up of all the day's headlines below, but first, the scoreboard:

• Dow: 18,394.31, -54.10, (-0.29%)
• S&P 500: 2,170.11, -2.36, (-0.11%)
• Nasdaq: 5,221.86, 9.65, (+0.19%)
• WTI crude oil: $47.42, +0.09 (+0.19%)

1. Chair Yellen was measured in her speech. Yellen did say that the case for rate hikes had "strengthen in recent months." Yellen also renewed calls for fiscal stimulus and a possible reevaluation of the Fed's inflation target.
2. Other Fed officials struck a hawkish tone. Most notably, Fed Vice Chair Stanley Fischer said "the big numbers are better than they have been for some time" seeming to indicate an increased appetite for another rate hike.
3. Carl Icahn may sell his stake in Herbalife to a group including Bill Ackman. Ackman said that if Icahn sold out of the nutrition company, it would be "toast" and reiterated his belief that Herbalife's stock will collapse. Icahn and Ackman have been arguing over Herbalife for roughly two years.
4. Cloud computing platform Rackspace was bought for $4.3 billion. The company was purchased by private-equity firm Apollo Global for $32 a share.
5. The University of Michigan consumer confidence index came in below expectations. The reading on how Americans feel about the economy fell to 89.8 in the final reading for August, below expectations of 90.5.
6. The Baker Hughes rig count stayed steady. The total number of rigs remained at 409 for the week.

Additionally:

Business Insider's Portia Crowe did a deep dive into the lawsuit that has everyone on Wall Street talking.

Jim Rogers thinks that a Trump presidency will lead to trade, and maybe even military, wars. He also thinks turmoil is on the way.

The Mylan CEO keeps jacking up the EpiPen price because her pay depends on it.

According to this chart, 70% of the time the Federal Reserve will be right every time.

The man who accurately predicted 5 market crashes has 3 more dates we need to worry about

The bond market is about to cross a line in the sand.

NOW WATCH: Here's why the Olympic diving pool turned green

Please enable Javascript to watch this video