The Dow Jones Industrials nosed up 9.88 points to 33,743.84.
The S&P 500 inched back 0.73 points to 4,016.22.
The NASDAQ Composite gave back 20.91 points to 11,313.86.
Technology stocks languished for most of the session after Microsoft’s lackluster guidance further fueled growth concerns. The software giant
closed slightly lower. Boeing finished slightly higher despite a top-and bottom-line miss.
Investors bought stocks heading into the reporting period, anticipating better-than-expected prints as companies reset and lowered expectations. But reports so far across sectors have mostly dashed those hopes as many companies share dismal outlooks, he said.
Investors are bracing for more high-profile corporate earnings this week as fears of a recession persist, with Tesla and IBM among the companies slated to post numbers after the bell. Through Wednesday’s open, more than 19% of S&P 500 companies have reported fourth-quarter earnings, with 68% of them posting stronger-than-expected results.
As of Wednesday’s close, all three major averages are higher for the week, with the NASDAQ up 1.6%. The S&P and Dow have gained 1.1% each.
Prices for the 10-year Treasury gained a slight bit of ground, lowering yields to 3.45% from Tuesday’s 3.46%. Treasury prices and yields move in opposite directions.
Oil prices gained back 37 cents to $80.50 U.S. a barrel.
Gold prices regained $11.70 to $1,947.10 U.S. an ounce.
Dow Moves Doggedly into Green, Other Indexes Cut Losses