4:10 pm : The major averages ended on a mixed note as the S&P 500 added 0.3% while Nasdaq shed 0.2%.
Technology stocks lagged from the opening bell with Oracle (ORCL 30.14, -3.07) contributing to the underperformance. Shares of the software company fell 9.3% in reaction to a disappointing earnings report. Other major tech components like Apple (AAPL 413.50, -3.34) and Google (GOOG 880.93, -3.81) also settled in the red. The weakness in large technology shares pressured the Nasdaq, which trailed behind the broader market throughout the day.
Equities received a midday boost off session lows after Jon Hilsenrath of The Wall Street Journal put out a piece suggesting the markets might be misreading the Fed's messages and that there were overlooked dovish signals in Chairman Bernanke's press conference. This gave the S&P some fuel for an afternoon rally.
The second-half climb stalled briefly after yet another headline made the rounds. This time, International Monetary Fund's David Lipton said the withdrawal of Federal Reserve's stimulus is a positive, but there may be a case for central banks and governments to step in if markets become disorderly.
Notably, while the Wall Street Journal story sparked a fire under equities, the Treasury market's response was limited.
Rising Treasury yields have been in focus all week with the climb continuing today. The 10-yr note began selling off prior to the start of the U.S. session and continued sliding to end on its lows. As a result, the benchmark 10-yr yield jumped almost ten basis points to 2.514%, its highest level since August 2011.
Despite the ongoing rise in yields, income-oriented sectors held