NEW YORK (TheStreet) --CNBC's Bob Pisani joined Friday afternoon's "Closing Bell" from the floor of the New York Stock Exchange to discuss the market's behavior throughout Friday's trading hours.

The two primary influences on the market today, responsible for its swing both to the upside and then to downside, were the speeches delivered by United States Federal Reserve chairperson Janet Yellen, and the Federal Reserve vice chairperson Stanley Fischer.

"Yellen's comments, most people thought, didn't change the prospect for a September rate hike. As a result, the market went up. But, Fisher comes out, and he's very definitive in saying a hike is very much alive, in a very strong way, and the market went down, more than twice as much. That indicated that risk is now to the downside," Pisani explained.

Pisani concluded by noting that currently, the marker is fully valued, and will be tough to move it forward, however, easy to move it back down.