Wednesday, Jul 27, 2016
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Stock Market

U.S. stocks slip as investors digest earnings

NEW YORK -- Stocks are closing mostly lower as investors considered a new set of corporate earnings and the Federal Reserve’s latest assessment of the U.S. economy.

In remarks to Congress, Fed Chair Janet Yellen raised the possibility the Fed could raise its key short-term interest rate sooner than currently projected.

The Standard & Poor’s 500 index fell three points, or 0.2 percent, to close at 1,973 today.

The Dow Jones industrial average rose five points, or 0.03 percent, to 17,060 and the Nasdaq composite slid 24 points, or 0.5 percent, to 4,416.

JPMorgan Chase and Goldman Sachs rose after the banks reported results that were better than investors were expecting.

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 2.55 percent.

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