Off the wire
• 1st LD-Writethru-China Focus: China provides update on returned corruption fugitives  • Xinhua world news summary at 1530 GMT, May 10  • Washington's decision to arm Syrian Kurdish group is "unacceptable": Turkey's PM  • Seychelles withdraws candidate from UNWTO race  • AIIB president says Cambodia on right track of economic development  • A cabin on the moon? China hones the lunar lifestyle  • East African air transport stands to boost GDP: study  • China-Syria economic cooperation enjoys broad prospect: official  • Egypt's annual inflation hits 32.9 pct, food prices up 44.3 pct  • U.S. stocks open mixed on earnings, Fed speeches  
You are here: 　 Home

U.S. stocks waver on earnings, Fed speeches

Xinhua, May 10, 2017 Adjust font size:

U.S. stocks wavered in the morning session on Wednesday as investors digested a batch of first-quarter earnings reports and awaited key speeches from Federal Reserve officials.

At midday, the Dow Jones Industrial Average lost 10.97 points, or 0.05 percent, to 20,964.81. The S&P 500 added 1.28 points, or 0.05 percent, to 2,398.20. The Nasdaq Composite Index decreased 2.92 points, or 0.05 percent, to 6,117.67.

In corporate news, shares of Disney lost 2.34 percent at 109.45 U.S. dollars in intraday trading after the company reported earnings Tuesday after the closing bell that missed analysts' estimates.

Its first-quarter diluted earnings per share increased to 1.50 dollars from 1.30 dollars year on year.

News Corp reported its first-quarter revenues to be 1.98 billion dollars, a five percent increase compared to 1.89 billion dollars in the prior year. The company registered adjusted earnings per share of 0.07 dollar, compared to 0.04 dollar in the prior year.

On the economic front, Boston Federal Reserve Bank President Eric Rosengren and Minneapolis Federal Reserve Bank President Neel Kashkari will deliver speeches later on Wednesday.

Investors have been closely watching speeches of Fed speakers for hints about the upcoming policy decision.

The Federal Reserve left its benchmark interest rates unchanged last week as it waited for more data to assess the U.S. economic outlook. But the Fed policymakers hinted at a possible rate hike in June.

Market expectations for a June rate hike were 87.7 percent, according to the CME Group's FedWatch tool Wednesday. Endit