Stocks waver in midday trade after mixed earnings reports

AP News
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Posted: Apr 14, 2015 11:52 AM
Stocks waver in midday trade after mixed earnings reports

NEW YORK (AP) — U.S. stocks were moving between small gains and losses in midday trading as investors reacted to mixed corporate earnings.

JPMorgan Chase rose Tuesday after reporting first-quarter results that beat expectations.

The Dow Jones industrial average was up 32 points, or 0.2 percent, to 18,010 as of 11:45 a.m. Eastern time.

The Standard & Poor's 500 was little changed at 2,092. The Nasdaq composite fell 21 points, or 0.4 percent, to 4,966.

Companies in the S&P 500 are expected to report a 3 percent slump in earnings in the first quarter, the first quarterly drop since the U.S. was climbing out of recession in 2009. Much of the blame goes to a steep drop in oil prices.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.86 percent.