US stocks were little changed today as comments from Federal Reserve Chair Janet Yellen failed to provide clarity on the impact of a harsh winter on recent economic weakness, while concerns rose over turmoil in Ukraine.
Addressing the Senate Banking Committee, Yellen said some economic data had been weaker since she spoke to the House of Representatives on Feb. 11, but that it was difficult to say how much of that was due to weather. Yellen also confirmed that the central bank would keep to its stimulus-trimming schedule.
The Dow Jones industrial average was up 6.52 points, or 0.04 percent, at 16,204.93. The Standard & Poor’s 500 Index was up 0.69 points, or 0.04 percent, at 1,845.85. The Nasdaq Composite Index was up 6.54 points, or 0.15 percent, at 4,298.61.
European equities pared most of their early losses late in trading, with better-than-expected US durable goods data and comments from Federal Reserve Chair Janet Yellen prompting some investors to return to the market.
The FTSEurofirst 300 index, which fell 1.0 percent earlier in the day on poor company news and Ukraine tensions, ended 0.2 percent lower at 1,345.46 points. It was helped by data showing orders for US manufactured goods excluding transportation unexpectedly rose last month.
Meanwhile, Japan’s Nikkei average fell for a second day, moving further away from a four-week closing hit earlier this week as heightened tensions in Ukraine soured sentiment, dragging down index heavyweights like SoftBank.
The Nikkei ended 0.3 percent lower at 14,923.11, moving away from 15,051.60 hit on Tuesday, which was the highest closing level since Jan. 29.
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