An early rally in stocks is mostly gone by the closing bell

An early rally on the stock market was mostly gone by the closing bell, leaving indexes with a mixed finish after being up most of the day.

Materials and energy companies fell more than the rest of the market Wednesday. Murphy Oil sank 6 percent.

Several media companies slumped. Disney helped drag the Dow Jones industrial average lower after reporting that its cash-cow sports network ESPN had hit a soft patch.

Traders were encouraged to hear Federal Reserve Chair Janet Yellen say that the central bank will be cautious about raising interest rates.

- FWBP Digital Partners -

The Dow Jones industrial average lost 99 points, or 0.6 percent, to 15,914.

The Standard & Poor’s 500 index slipped a fraction of point to 1,851. The Nasdaq climbed 14 points, or 0.4 percent, to 4,283.