US stocks post modest gains after a sell-off the day before; Yellen's comments remain in focus

Markets Associated Press

U.S. stock prices are closing moderately higher, recovering from a sell-off the day before.

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Investors remained cautious Thursday following comments a day earlier from Federal Reserve Chair Janet Yellen, who suggested that stock prices might be too high.

The Dow Jones industrial average rose 82 points, or 0.5 percent, to 17,924. The index is coming off of two days of losses and is up less than 1 percent for the year.

The Standard & Poor's 500 index seven points, or 0.4 percent, to 2,088. The Nasdaq increased 25 points, or 0.5 percent, to 4,945.

Whole Foods slumped 10 percent after its sales fell short of estimates.

Crude oil dropped 3 percent to $58.94 a barrel.

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Bond prices rose. The yield on the 10-year Treasury note fell to 2.19 percent.