LIVE MARKETS-Wall Street indexes close to flat with earnings weighing
Wall Street indexes closed slightly lower as disappointing earnings reports weighed on investor sentiment. The S&P 500, Nasdaq, and Dow experienced minor declines, with consumer discretionary stocks, led by Netflix and Texas Instruments, suffering the most. Energy stocks gained, buoyed by rising oil prices. Gold prices fell to a near two-week low, while U.S. Treasury yields increased. The ongoing U.S. government shutdown continues to impact market dynamics, with uncertainty surrounding economic recovery and corporate earnings forecasts.
(Updates after U.S. markets open )
S&P 500, Nasdaq, Dow edge down
Energy leads sector gainers, consumer discretionary is biggest loser
STOXX 600 up ~0.14%
Gold falls >1%, dollar flat, crude rises >2%
U.S. 10-year Treasury yields up to ~3.97% Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at
WALL STREET INDEXES CLOSE TO FLAT WITH EARNINGS WEIGHING
Wall Street indexes were falling slightly on Wednesday with some of the latest earnings reports falling short of investor hopes and the U.S. government shutdown dragging on. While White House economic adviser Kevin Hassett said on Monday that 20-day U.S. federal government shutdown is likely to end this week, President Donald Trump on Tuesday rebuffed a request by top Democratic lawmakers to meet until the three-week-old U.S. government shutdown ends. Netflix (NFLX.O) shares fell 8.9% after it missed Wall Street’s third-quarter earnings targets because of an unexpected expense from a Brazilian tax dispute. While its forecast for the rest of the year was a touch ahead of Wall Street projections, it failed to impress investors accustomed to fast-paced growth from the streaming video pioneer. Shares of Texas Instruments (TXN.O) sank 4.9% after the chipmaker’s downbeat fourth-quarter profit and revenue outlook deepened worries over a drawn-out recovery in the analog chip market as tariff uncertainty plagues the wider industry.
Other heavyweight stocks that dragged on the S&P 500 included Amazon.com (AMZN.O) and Apple (AAPL.O) . But countering the weakness were Microsoft (MSFT.O) , Nvidia (NVDA.O) and Alphabet (GOOGL.O) plus shares of Intuitive Surgical (ISRG.O) rose more than 16%, providing a strong boost after its Q3 results handily beat expectations.
Among the S&P 500’s 11 major sectors consumer discretionary (.SPLRCD) , down 0.7%, was the biggest loser with heavyweight Tesla (TSLA.O) falling slightly ahead of its quarterly results due later in the day. The biggest sector gainer was energy (.SPNY) , which rose 0.9% as oil prices climbed. Spot gold prices (XAU=) extended their declines on Wednesday to a near two-week low, following their sharpest single-day drop in five years in Tuesday’s session, as investors booked profits ahead of key U.S. inflation data due this week.
Here is your morning snapshot from about 10:15 a.m ET/ 1415 GMT
(Sinéad Carew)
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Wall Street edges into the red
