Wall Street opens flat, IBM weighs on Dow index

Image
Reuters NEW YORK
Last Updated : Jan 22 2014 | 8:38 PM IST

NEW YORK (Reuters) - U.S. stocks opened little changed on Wednesday as corporate earnings provided investors with little reason to buy in a stock market that has been unable to find its footing after a strong rally last year.

Shares of IBM weighed down the Dow after the world's biggest technology services company missed revenue expectations for a fourth straight quarter amid weakening demand, particularly in growth markets like China.

The Dow Jones industrial average fell 21.7 points or 0.13 percent, to 16,392.74, the S&P 500 gained 1.57 points or 0.09 percent, to 1,845.37 and the Nasdaq Composite added 8.714 points or 0.21 percent, to 4,234.474.

(Reporting by Angela Moon; Editing by Bernadette Baum)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 22 2014 | 8:25 PM IST

Next Story