US stocks drift in midday trading, holding near record highs; Fed's Yellen continues testimony

Markets Associated Press

U.S. stocks are little changed in midday trading as Federal Reserve Chair Janet Yellen continues her Congressional testimony.

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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.