Wall Street rises; sees bright side of higher rates

"As we look at our place in the global economy, things just seem to be improving to a point where it certainly looks likely that June or July will be the next launching point," said Paul Springmeyer, portfolio manager at the Private Client Reserve of U.S. Bank. After Yellen's speech, traders raised their expectations of a June rate hike to 34 percent from 30 percent, according to CME Group.