U.S. stocks trade mixed on earnings reports

U.S. stocks traded in a narrow range Wednesday as Wall Street was digesting quarterly earnings reports from big companies.

At midday, the Dow Jones Industrial Average was up 69.05 points, or 0.40 percent, to 17,286.16 The S&P 500 rose 1.98 points, or 0.10 percent, to 2,032.75. The Nasdaq Composite Index shed 1.98 points, or 0.04 percent, to 4,878.99.

With no major economic data due out Wednesday, investors focused on the third-quarter earnings season, which reaches its peak as a raft of noted corporates report quarterly results this week.

Before Wednesday's opening bell, the Boeing Company reported third-quarter 2015 revenue increased 9 percent to 25.8 billion U.S. dollars on record commercial deliveries.

Core earnings per share for the quarter increased 18 percent to 2.52 dollars, reflecting strong performance across the company. Its shares jumped nearly 2.0 percent in early trading.

General Motors Company (GM) reported earnings and revenue that beat Wall Street forecasts, as demand for trucks in North America remained strong. Its shares surged over 5 percent in early trading.

The U.S. car maker announced third-quarter 2015 net income to common stockholders of 1.4 billion dollars or 0.84 dollar per diluted share, compared to 1.4 billion dollars or 0.81 dollar per diluted share a year ago.

Meanwhile, Ferrari begins trading on the New York Stock Exchange Wednesday morning under the ticker symbol RACE. The luxury car maker priced its IPO at 52 dollars per share, valuing the company at 9.8 billion dollars. Its shares soared more than 8 percent in early trading.

On Tuesday, U.S. stocks snapped a three-day winnings streak to end mildly lower after wavering in a narrow range, as investors digested a string of corporate earnings reports and U.S. housing starts data. Endit