Stocks turned lower today as the Feds statement said officials predicted their target interest rate would be 1 percent at the end of 2015 and 2.25 percent a year later, higher than previously forecast.

More than $41 billion has returned to U.S. exchange-traded funds that own shares in the past four weeks, reversing withdrawals that swelled to as much as $40.2 billion last month.

U.S. stocks erased losses, sending the Standard & Poors 500 Index above its record close, after companies from Macys Inc. to Home Depot Inc. reported higher- than-estimated earnings.

Stocks rose, with the Standard & Poors 500 Index headed toward a second straight weekly advance

The S&P 500 slipped 0.1 percent to 1,818.35 at 10:18 a.m. in New York, after falling as much as 0.6 percent earlier. The Dow Jones Industrial Average lost 19.87 points, or 0.1 percent, to 15,944.07.

Stocks rose, sending the Standard & Poors 500 Index higher for a fourth day, as Federal Reserve Chairman Janet Yellen said more work is needed to restore the labor market.