US stocks mixed as cyclicals take the lead, crude weakness persists
U.S. stocks were mixed on Wednesday and gold gained strength as bank earnings continued to beat expectations while fears of softening global demand weakened megacap growth stocks and quelled investor risk appetite.
The S&P 500's gains appeared to be held in check by underperforming megacap growth stocks, which pulled the Nasdaq into negative territory.
The blue-chip Dow, powered by financial shares, was modestly higher.
The Dow Jones Industrial Average (.DJI), opens new tab rose 197.71 points, or 0.46%, to 42,938.13. The S&P 500 (.SPX), opens new tab climbed 5.23 points, or 0.09%, to 5,820.35 and the Nasdaq Composite (.IXIC), opens new tab fell 16.59 points, or 0.09%, to 18,299.00.
Source: Reuters