The S&P 500 was little changed Wednesday as traders digested the latest commentary on the pace of future monetary policy from Federal Reserve Chair Jerome Powell.
The Dow Jones Industrials dipped 43.64 points to break for noon Wednesday at 33,883.10.
The S&P 500 regained 6.87 points to 4,385.50.
The NASDAQ index gained 76.25 points to 13,631.92.
Powell on Wednesday said there is more restriction coming, including the likelihood of more interest rate hikes at future meetings.
Chip stocks fell after The Wall Street Journal reported that the U.S. was considering new export restrictions to China. Nvidia shares were lower, while Amazon advanced 1%. Tesla jumped nearly 3%. Netflix shares rose more than 4%.
Investors are preparing to close out the best first half for the NASDAQ in 40 years, as they ride a wave of optimism around artificial intelligence that has significantly buoyed a handful of mega-cap tech stocks. The S&P 500 and NASDAQ Composite are higher this year by 14% and 29%.
Powell was speaking Wednesday before a policy panel at the European Central Bank Forum on Central Banking in Sintra, Portugal.
Powell is joined by Bank of England Governor Andrew Bailey, European Central Bank President Christine Lagarde and Bank of Japan Governor Kazuo Ueda.
Prices for the 10-year Treasury enjoyed slight gains, lowering yields to 3.73% from Tuesday's 3.76%. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.64 to $69.34 U.S. a barrel.
Gold prices subtracted four dollars to $1,919.80 U.S. an ounce.