The stock market rallied at the open, helped by J.P. Morgan and Goldman Sachs gaining after their earnings reports.
But that pop faded as investors took in a Fed report and comments from Fed Chairwoman Janet Yellen.
In particular, the Fed report sounded a cautious note on small caps, biotechs and social-media stocks.
So perhaps it’s no surprise the tech-heavy Nasdaq and the small-cap Russell 2000 are underperforming, while the Dow is in the green, led by J.P. Morgan
SP 500 -0.1%
Russell 2000 -0.9%