U.S. stock indices wavered at the open on Wednesday, trading near record highs hit earlier this week, following earlier positive data today and Yellen's bullish testimony yesterday.
Earlier U.S. data showed strength in retail sales in January, buoying consumer shares, while consumer prices rose past expectations last month, reflecting the momentum in inflation as alluded to by the Federal Reserve.
Fed Chair Yellen's testimony yesterday ahead of Congress showed the bank's commitment to increase interest rates gradually, while opening the door for a rate hike in the March meeting, hurting demand on stocks and causing today's wavering.
On the other hand, the dollar jumped to a five-week high on the back of Yellen's bullish statements, heaping pressures on commodities, with energy and commodity stocks hurting as well on Wall Street.
Standard and Poor's 500 fell 0.03%, or 0.61 points to 2,336.97, while Dow Jones gained 0.16%, or 32.94 points to 20,537.35.
Tech-heavy NASDAQ rose 0.11%, or 6.38 points to 5,788.95.