By Sinead Carew NEW YORK (Reuters) - The U.S. dollar rose and stocks also gained ground on Wednesday after Federal Reserve Chair Janet Yellen suggested the U.S. central bank was ready to raise interest rates quickly this year. U.S. Treasury yields rose too after Yellen said "waiting too long to begin moving toward the neutral rate could risk a nasty surprise down the road - either too much inflation, financial instability, or both." Oil futures tumbled, however, dragging down the energy sector index , which was one of the biggest weights on the S&P 500. Yellen's comments were not seen as a departure from the Fed's previous tone but they highlighted strong U.S. fundamentals which support a strong dollar, high yields and stocks.
By Roberta Rampton and Jeff Mason WASHINGTON (Reuters) - President Barack Obama urged President-elect Donald Trump on Wednesday to keep separate the issue of economic sanctions on Russia from the pursuit of talks to reduce nuclear stockpiles. Trump, who takes office on Friday after winning the Nov. 8 election, said in an interview with the Times of London published on Monday that he would propose offering to end sanctions on Moscow in return for a nuclear arms reduction deal. Obama's administration imposed the sanctions in 2014 after Russia's annexation of the Crimea peninsula from Ukraine.