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Stocks lost steam in the final hour of trading to finish mixed Thursday, after the Federal Reserve announced new capital rules for financials and following Bernanke's comments that offered little hope for further central bank intervention.
Stocks saw an initial boost at the open after China's central bank cut its key interest rate by 25 basis points in a surprising move, in an aim to bolster its sagging economy. (Read More: Why China’s Interest Rate Cut Is a Really Big Deal )
The Dow Jones Industrial Average came off its triple-digit rally, but still rose 46.17 points, or 0.37 percent, to finish at 12,460.96, led by Caterpillar and United Tech.
The S&P 500 slipped 0.14 points, or 0.01 percent, to end at 1,314.99. The Nasdaq erased 13.70 points, or 0.48 percent, to close at 2,831.02. Still, all three major averages are on pace to logging their biggest weekly gains of 2012.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, ended below 22.
Among the key S&P sectors, telecoms and techs led the laggards, while utilities held modest gains.
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