The Dow Jones Industrials came off its highs of the morning, but stayed afloat 47.74 points to 35,208.53.
The S&P 500 ditched 2.08 points to 4,457.37.
The NASDAQ Composite lost 37.08 points to 13,415.99. Even so, all the major averages are on pace to end the week higher.
Powell is set to speak at 1 p.m. ET during the International Monetary Fund Debate on the Global Economy.
Tesla rose about 6% after better-than-expected earnings. Those numbers were propelled in part by strong car deliveries in the quarter. Several analysts lauded Tesla after the release, with one calling it a “core holding.”
United added roughly 12% after the airline forecast a profit in 2022.
More than 17% of S&P 500 companies have reported earnings through Thursday’s open, with nearly 81% of those names beating analyst expectations, according to FactSet.
On the downside, Warner Bros. Discovery retreated 8.3% after news of the company shutting down CNN+.
Despite market expectations for a series of aggressive interest rate increases,
In economic data, initial jobless claims came in slightly higher than expected at 184,000 for the week ending April 16, showing a decline of 2,000. Dow Jones analysts estimated 182,000 first-time claims.
Treasury prices fell, raising yields to 2.94%, from Wednesday’s 2.84%. Treasury prices and yields move in opposite directions.
Oil prices added $2.10 at $104.29 U.S. a barrel.
Gold prices faltered $14.20 to $1,941.40 U.S. an ounce.