U.S. stock indexes tread water at the start of trading Wednesday, with investors finding few reasons to take benchmarks further into record territory, amid a round of earnings from U.S. corporations. The Dow Jones Industrial Average edged 17 points, or less than 0.1%, lower at 27,316, the S&P 500 index retreated less than 0.1% at 3,003, while the Nasdaq Composite Index inched less than 0.1% lower at 8,224. Bank of America (BAC) reported better-than-expected results, with earnings per share for the quarter at 74 cents, compared with estimates for 71 cents. But expectations for lower profits, in an environment of falling interest rates, have put some pressure on shares of the second-largest bank by assets. Meanwhile, shares of CSX Corp. (CSX) were down after the rail company cut its full-year sales projections, citing economic uncertainty and a recent shutdown of a major oil refinery it served.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 17, 2019 17:25 ET (21:25 GMT)
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