U.S. Stocks Open Sharply Higher as Janet Yellen Soothes Investors

U.S. stocks opened sharply higher Friday as Federal Reserve Chair Janet Yellen soothed investors saying an interest rate hike is likely before the end of the year. Gross Domestic Product numbers for the second quarter were revised higher to 3.9%. BlackBerry (BBRY) reported a wider than expected loss. Sports apparel retailer Finish Line (FINL) saw its profit fall and revenue missed estimates. Will Pope Francis boost sales of Fiat cars? Since he's been tooling around the United States in a small Fiat car, web searches, phone calls and questions about the car have gone up ten fold. Meanwhile, every time a Pope has spoken to the United Nations General Assembly, the stock market has closed higher. The new boss of Volkswagen may come from within. The current head of Volkswagen's Porsche division, Matthias Mueller is said to be promoted to temporary CEO, according to several media reports.