US stocks drift in midday trading, holding near record highs
U.S. stocks are little changed in midday trading as Federal Reserve Chair Janet Yellen continues her Congressional testimony.
The Dow Jones industrial average was up 13 points, or 0.1 percent, at 18,222 as of 11:55 a.m. Eastern time Wednesday.
The Standard & Poor’s 500 index was unchanged at 2,115. The Nasdaq composite edged up three points to 4,971.
The Dow and S&P 500 closed at record highs the day before after investors were encouraged by remarks from Yellen suggesting that the Fed was not in a hurry to raise interest rates.
Oil rose 89 cents to $50.24 a barrel in New York.
Bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 1.98 percent.