US stocks dip as investors assess earnings, Yellen remarks; Goldman, JPMorgan higher

The Associated Press

FILE - In this Feb. 10, 2011 file photo, American flags fly in front of the New York Stock Exchange, in New York. Stock futures edged higher Tuesday, July 15, 2014, as investors digested mixed U.S. retail sales data and several corporate earnings reports. The latest earnings from Johnson & Johnson and JPMorgan Chase both beat Wall Street's expectations. (AP Photo/Mark Lennihan, File)

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The Associated Press

Stocks are slightly lower in midday trading as investors considered the latest batch of corporate earnings and Federal Reserve Chair Janet Yellen's semi-annual economic report to Congress.

The Standard & Poor's 500 index fell six points to 1,970 as of noon Eastern Time Tuesday.

The Dow Jones industrial average slipped 16 points, or 0.1 percent, to 17,038 and the Nasdaq composite slid 34 points, or 0.8 percent, to 4,406.

Yellen told Congress that the Fed intends to keep providing significant support to the U.S. economy to boost growth and improve labor market conditions.

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

Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.55 percent.

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