US open: Stocks mixed as Q2 earnings remain in focus
Wall Street trading got off to a mixed start on Wednesday as market participants remained firmly focussed on corporate earnings.
As of 1530 BST, the Dow Jones Industrial Average was down 0.24% at 31,750.13, while the S&P 500 was 0.11% firmer at 3,940.85 and the Nasdaq Composite came out the gate 0.75% higher at 11,801.49.
The Dow opened 76.92 points lower on Wednesday after wrapping up the previous session sharply higher.
Earnings were again in focus at the start of trading on Wednesday, with streaming giant Netflix reporting subscriber numbers had continued to fall in the second quarter, losing around 1.0m subscribers during the three months ended 30 June, below the 2.0m it had forecast,
Oilfield services company Baker Hughes reported Q2 revenues and earnings per share that missed analysts' expectations, Biogen posted adjusted profits of $5.25 per share for the second quarter, well above consensus estimates of $4.06, and healthcare group Abbott Laboratories raised full-year earnings guidance after posting an earnings beat.
Still to come, Equifax, United Airlines and Tesla will report after the close.
On the macro front, US mortgage applications fell 6.3% in the week ended 15 July, a third consecutive drop and the lowest level since 2000, according to the Mortgage Bankers Association. The drop in the overall index came as a result of a 7.3% decline in the applications index and a 4.3% decrease in the refinancing index.
Elsewhere, the National Association of Realtors revealed US existing home sales dropped 5.4% in June to a seasonally adjusted annual rate of 5.12m, well below forecasts for a reading of 5.38m and the lowest reading seen since June 2020.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Salesforce.Com Inc. (CRM) $180.62 3.92%
Walt Disney Co. (DIS) $103.36 3.76%
Nike Inc. (NKE) $110.65 1.34%
Microsoft Corp. (MSFT) $261.36 0.70%
Apple Inc. (AAPL) $151.95 0.63%
3M Co. (MMM) $132.71 0.44%
Goldman Sachs Group Inc. (GS) $319.40 0.42%
Intel Corp. (INTC) $40.35 0.34%
Amgen Inc. (AMGN) $248.01 0.28%
Boeing Co. (BA) $156.51 0.24%
Dow Jones - Fallers
Unitedhealth Group Inc. (UNH) $518.14 -2.87%
Procter & Gamble Co. (PG) $142.31 -1.20%
Merck & Co. Inc. (MRK) $91.39 -1.05%
Travelers Company Inc. (TRV) $156.76 -1.00%
Verizon Communications Inc. (VZ) $49.95 -0.99%
Coca-Cola Co. (KO) $61.92 -0.98%
International Business Machines Corporation (CDI) (IBM) $129.79 -0.83%
Visa Inc. (V) $212.30 -0.63%
McDonald's Corp. (MCD) $255.11 -0.54%
Caterpillar Inc. (CAT) $178.77 -0.40%
S&P 500 - Risers
Nektar Therapeutics (NKTR) $4.01 6.65%
Royal Caribbean Cr (RCL) $38.42 5.68%
Nasdaq Inc (NDAQ) $167.92 5.40%
Carnival Corp. (CCL) $10.85 4.73%
Norwegian Cruise Line Holdings Ltd (NCLH) $13.43 4.51%
Salesforce.Com Inc. (CRM) $180.62 3.92%
Align Technology Inc. (ALGN) $277.40 3.77%
Walt Disney Co. (DIS) $103.36 3.76%
Netflix Inc. (NFLX) $209.19 3.75%
Nvidia Corp. (NVDA) $175.61 3.35%
S&P 500 - Fallers
Elevance Health Inc. (ELV) $465.81 -6.36%
Northern Trust Corp. (NTRS) $96.42 -4.75%
National Oilwell Varco Inc. (NOV) $14.54 -3.71%
Bath & Body Works, Inc. (BBWI) $29.17 -3.15%
Biogen Inc (BIIB) $213.35 -3.14%
FMC Technologies Inc. (FTI) $6.23 -3.11%
Unitedhealth Group Inc. (UNH) $518.14 -2.87%
CIGNA Corp. (CI) $267.07 -2.74%
CF Industries Holdings Inc. (CF) $84.74 -2.50%
Newmont Corporation (NEM) $53.43 -2.23%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $753.18 3.92%
Align Technology Inc. (ALGN) $277.40 3.77%
Netflix Inc. (NFLX) $209.19 3.75%
Nvidia Corp. (NVDA) $175.61 3.35%
Autodesk Inc. (ADSK) $190.69 3.21%
Expedia Group Inc. (EXPE) $103.39 3.06%
Amazon.Com Inc. (AMZN) $121.82 3.05%
Illumina Inc. (ILMN) $200.19 2.85%
Lam Research Corp. (LRCX) $459.01 2.70%
Wynn Resorts Ltd. (WYNN) $61.14 2.64%
Nasdaq 100 - Fallers
Biogen Inc (BIIB) $213.35 -3.14%
Hologic Inc. (HOLX) $69.53 -1.37%
Vodafone Group Plc ADS (VOD) $15.56 -1.30%
Henry Schein Inc. (HSIC) $76.98 -1.24%
J.B. Hunt Transport Services Inc. (JBHT) $172.46 -1.14%
CSX Corp. (CSX) $29.49 -0.77%
Kraft Heinz Co. (KHC) $38.45 -0.75%
Automatic Data Processing Inc. (ADP) $217.60 -0.62%
T-Mobile Us, Inc. (TMUS) $136.81 -0.52%
O'Reilly Automotive Inc. (ORLY) $686.54 -0.40%