U.S. Stocks Open Mixed as Fed’s Yellen Sees Gradual Rate Hikes

U.S. stocks opened mixed as investors turned their attention to the latest comments for Federal Reserve Chairman Janet Yellen, who said financial conditions in the U.S. have recently become less supportive of growth. In prepared testimony that she’ll deliver to Congress, Yellen said she expects economic conditions will warrant only gradual interest rate increases. She also pointed to some positives in the economy, including strong jobs growth. Several entertainment companies reported earnings including Disney (DIS), which saw record results thanks to the hit movie Star Wars: The Force Awakens. Time Warner (TWX) reported better than expected earnings and raises its dividend.