U.S. Stocks Open Higher As Investors Digest Yellen Statement

U.S. stocks opened slightly higher Wednesday as investors took in a cautious statement on the U.S. economy by Federal Reserve Chairwoman Janet Yellen that fell largely within expectations. In her statement released ahead of her testimony on Capitol Hill, Yellen did not back away from expectations for additional, gradual, interest-rate hikes. The S&P 500 opened 10 points, or 0.5%, higher at 1,861. The Dow Jones Industrial Average was up 40 points, or 0.2%, at 16,049 shortly after the open. Meanwhile, the Nasdaq Composite began the day up 45 points, or 1%, at 4,313.