NEW YORK: US stocks Wednesday finished mostly higher following more-conciliatory statements by Russia's president amid the Ukraine crisis, but weak earnings from some technology stocks pushed the Nasdaq into the red.
At the closing bell, the Dow Jones Industrial Average rose 117.20 points (0.71 percent) to 16,518.22, while the broad-based S&P 500 advanced 10.51 (0.56 percent) to 1,878.23.
But the Nasdaq Composite Index fell 13.09 (0.32 percent) to 4,067.67.
There was some easing in geopolitical tensions over Ukraine after Russian President Vladimir Putin told pro-Russian rebels fighting in east Ukraine to halt plans for independence referendums.
Investors also closely tracked Federal Reserve Chair Janet Yellen's testimony in Congress. The Fed chief said the US economy is on track for "solid growth" in the second quarter.
Gregori Volokhine, president of Meeschaert Capital Markets, said Yellen's comments encouraged investors, while Putin's remarks also "had a positive effect" on the indexes, even if investors are skeptical of the Russian president.
But tech stocks suffered another bout of weakness after some disappointing earnings results.
With most of the earnings reports done, the quarter was "lackluster," said Peter Wahlstrom, senior analyst for technology, Morningstar.
"You're looking for broad-based strength. You're not seeing that," Wahlstrom said.
"There are areas that are performing well. There are areas that are not performing well and, on average, investors would have wanted more."
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