Stocks Waver After Tech Rout as Earnings Roll In
Stocks fluctuated after a selloff driven by some of the world’s largest chipmakers, with traders wading through a raft of corporate results.
The S&P 500 was little changed after dropping almost 1% in the previous session. Nvidia Corp. added 1%, pacing gains in megacaps. Morgan Stanley climbed 4% as traders and bankers joined the rest of their Wall Street rivals in posting better-than-expected revenue, fueling a 32% profit jump for the third quarter. United Airlines Holdings Inc. rose 5% as earnings beat estimates.
The S&P 500 hovered near 5,815. The yield on 10-year Treasuries declined two basis points to 4.01%.
Oil fluctuated near $74 a barrel after slumping on Tuesday, as traders continued to monitor the risk of escalation in the Middle East and the outlook for next year.
The S&P 500 was little changed as of 9:31 a.m. New York time
The Nasdaq 100 was little changed
The Dow Jones Industrial Average was little changed
Source : Bloomberg
