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U.S. stocks fluctuate narrowly amid earnings reports

Xinhua, December 22, 2016 Adjust font size:

U.S. stocks traded mildly lower in the morning session Wednesday as Wall Street meditated on a batch of earnings results.

By midday, the Dow Jones Industrial Average fell 19.79 points, or 0.10 percent, to 19,954.83. The S&P 500 decreased 2.58 points, or 0.11 percent, to 2,268.18. The Nasdaq Composite Index was down 11.78 points, or 0.21 percent, to 5,472.16.

After Tuesday's closing bell, Nike Inc. reported profits of 50 cents per share for the second quarter of its fiscal year 2017 ended November 30, on revenues of 8.2 billion U.S. dollars.

Following the release of the better-than-expected quarterly results, shares of the athletic retailer rose about one percent in early trading Wednesday.

Shares of FedEx Corp. dropped nearly 3 percent in early trading Wednesday after the U.S. shipping giant reported earnings for the second quarter of its fiscal year 2017 that missed analysts' estimates.

On the economic front, U.S. total existing-home sales rose 0.7 percent to a seasonally adjusted annual rate of 5.61 million in November from a downwardly revised 5.57 million in October, beating market consensus.

On Tuesday, U.S. stocks extended gains as the Bank of Japan kept its monetary policy unchanged after the conclusion of its two-day policy meeting. Enditem