Stocks are mostly flat, trading in a tight range today with oil prices up about 1% following strong durable goods data out this morning. Biotech is bouncing after a brutal day yesterday caused by social media comments from Hillary Clinton, calling the price of the Epipen from Mylan "outrageous". Low volume and volatility rule the day again as we wait for Yellen's remarks tomorrow.

Durable goods orders for July came in at 4.4% beating estimates for a 3.5% increase. Orders increased 1.6% excluding aircraft with gains across the board. The good news is that orders have picked up after declines in May and June. Initial jobless claims were a little better than anticipated at 261,000. Tomorrow morning we get GDP numbers at 8:30 am.