Off the wire
• China, EU hold strategic dialogue on bilateral, global affairs  • Foreign exchange rate of euro to other currencies  • Interview: UNESCO chief lauds China's efforts promoting cultural dialogues along Belt and Road  • Russia to prioritize people, infrastructure, national security in new budget: PM  • Suspected St. Petersburg blast organizer's citizenship under scrutiny  • Cold front brings winter back to central, eastern Ukraine  • Spotlight: May wins House of Commons backing for snap general election  • Int'l business council set up in Ukraine  • Xinhua world news summary at 1530 GMT April, 19  • 3 injured in north London house explosion  
You are here: 　 Home

U.S. stocks waver amid mixed corporate earnings

Xinhua, April 19, 2017 Adjust font size:

U.S. stocks traded mixed on Wednesday, as Morgan Stanley joined many big banks reporting strong quarterly earnings results but IBM dragged the Dow Jones Industrial Average lower.

By noon, the Dow Jones Industrial Average ticked down 12.43 points, or 0.06 percent, to 20,510.85. The S&P 500 rose 7.27 points, or 0.31 percent, to 2,349.46. The Nasdaq Composite Index gained 40.85 points, or 0.70 percent, to 5,890.32.

Shares of Morgan Stanley rallied 2.81 percent around midday Wednesday, after it reported better-than-expected first-quarter results.

The investment bank posted net revenues of 9.7 billion U.S. dollars for the first quarter of 2017, compared with 7.8 billion a year ago. For the current quarter, net income was 1.9 billion dollars, or one dollar per diluted share.

Shares of IBM dropped nearly 5 percent in the early trading Wednesday, after the tech giant posted weak quarterly sales.

IBM announced after Monday's closing bell first-quarter 2017 diluted earnings from continuing operations of 1.85 dollars per share, down 11 percent year on year.

Meanwhile, investors also awaited U.S. Federal Reserve's Beige Book, which is scheduled to be released later Wednesday. Endit