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Stocks slip at closing

People walk in front of the New York

People walk in front of the New York Stock Exchange building on Wall Street on July 13, 2015. Credit: EPA / Andrew Gombert

Stocks ended the day with small losses, halting their longest winning streak since January, as Greek lawmakers began debate on a new bailout and Federal Reserve Chair Janet Yellen signaled the central bank is on track to raise interest rates this year.

At the close on Wall Street, The Dow Jones industrial average was down 3.4 points, about 0.02 percent, at nearly 18,050.2. The Standard & Poor's 500 index lost 1.6 points, about 0.07 percent, to 2,107.4. The Nasdaq composite gave up nearly 6 points, about 0.1 percent, to nearly 5,099.

YELLEN SPEAKS: Yellen said in prepared remarks to Congress that she sees encouraging signs that the economy is reviving after a harsh winter and, if the improvements stay on track, policymakers could start raising interest rates later this year. The Fed's benchmark rate has been at a record low near zero since December 2008, pushing up both bond and stock prices.

GREECE BAILOUT: Greece's parliament began debate on austerity measures. The country could again roil markets if it rejects a bailout plan from its creditors. The International Monetary Fund, one of the country's creditors, criticized the terms of the recent deal. The IMF says that Greece's debt can only be made more sustainable through more expansive debt-relief measures than Europe is currently offering.

ENERGY: The price of the Dec. 15 contract for benchmark U.S. crude was down $1.50 to $53.48 a barrel on the New York Mercantile Exchange. Oil has fallen heavily this month as Iran has reached a deal on nuclear development with world powers. The deal should lead to sanctions being lifted on Iran, allowing it to export more oil, adding more supply to a worldwide production glut.

This story uses reports from Bloomberg News and The Associated Press.

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