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US: Stocks mixed ahead of Yellen testimony

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[NEW YORK] Wall Street stocks were mixed in early trade on Tuesday ahead of widely anticipated testimony before Congress by US Federal Reserve Chair Janet Yellen.

About 25 minutes into the session, the Dow Jones Industrial Average stood at 18,145.55, up 28.71 points (0.16 per cent).

The broad-based S&P 500 edged up 0.36 (0.02 per cent) to 2,110.02, while the tech-rich Nasdaq Composite Index dropped 6.26 (0.13 per cent) to 4,954.71.

Yellen was to appear on Tuesday and Wednesday on Capitol Hill for twice-yearly hearings to provide the US central bank's assessment of the economy and when it will be ready for a raise in interest rates from near zero.

In her opening remarks at 1500 GMT, she told a Senate panel that a rate hike was "unlikely" before June.

AFP