Now the Dow Is Rising, Too

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The Dow traded places with the Nasdaq.

The blue-chip index was up 100 points, or 0.3%, in midday trading. The S&P 500 was up 0.2%. The Nasdaq Composite was down 0.1%. The S&P 500 is on track to close at another record.

The yield on the 10-year Treasury note rose to 4.313%.

Stocks were mostly unchanged after Fed Chair Jerome Powell appeared for his first of two days of congressional testimony. Powell did not want to send any signals about when exactly the central bank might start cutting rates. Instead he simply reiterated that officials want to see more signs that price growth is easing sustainably.