Around the World's Markets: New York

WALL STREET was dominated by the Federal Reserve Chairman Alan Greenspan's testimony to Congress, with dealers waiting to see if he would elaborate on his earlier warning about high stock valuations during the question and answer session.

The Dow Jones index fell back after making early gains and by late morning was just 28.25 higher at 9,572.67. Technology shares were in demand, led by Internet stocks, especially Infoseek, Netscape, AOL and Micron Technology.