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US stocks slip as investors digest earnings

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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)

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)

Stocks are closing mostly lower as investors considered a new set of corporate earnings and the Federal Reserve’s latest assessment of the U.S. economy.

In remarks to Congress, Fed Chair Janet Yellen raised the possibility the Fed could raise its key short-term interest rate sooner than currently projected.

The Standard & Poor’s 500 index fell three points, or 0.2 percent, to close at 1,973 Tuesday.

The Dow Jones industrial average rose five points, or 0.03 percent, to 17,060 and the Nasdaq composite slid 24 points, or 0.5 percent, to 4,416.

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

Bond prices barely budged. The yield on the 10-year Treasury note held steady at 2.55 percent.

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