NEW YORK: Wall Street stocks were slightly lower early Wednesday following mixed earnings as markets stall ahead of major economic indicators due later this month.
“The market is in a wait and see mode,” said Adam Sarhan of 50 Park Investments. “So far earnings have been blah, especially for growth stocks. So the market’s waiting for the next bullish catalyst.”
About 40 minutes into trading, the Dow Jones Industrial Average was unchanged at 38,879.05.
Wall Street extends gains as rate-cut hopes linger
The broad-based S&P 500 declined 0.2 percent to 5,177.51, while the tech-rich Nasdaq Composite Index dropped 0.4 percent to 16,274.18.
Stocks finished little changed on Tuesday after three up days in which markets embraced Federal Reserve comments that further interest rate hikes were unlikely.
Among individual companies, Uber fell 5.4 percent after reporting earnings, while Rivian Automotive lost 6.4 percent and Reddit won 2.1 percent.
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