Stocks fell slightly on Wednesday as traders assessed the latest batch of corporate earnings.
The Dow Jones Industrials skimmed off 78.65 points to open the mid-week session at 46,846.09.
The S&P 500 slid 5.97 points to 6,728.37.
The tech-heavy NASDAQ declined 53.28 points to 22,900.39.
Netflix shares slumped 8% after the company posted an earnings miss, while Intuitive Surgical shares rallied 15% on the back of its strong earnings and revenue results.
The 30-stock index is coming off a record-setting session, briefly topping 47,000 on Tuesday, thanks to strong results from Coca-Cola and 3M.
The S&P 500 and NASDAQ lagged, however, after President Donald Trump commented about his expected meeting next week with Chinese President Xi Jinping. He noted that “maybe it won’t happen.”
Still, investors are hopeful that the flurry of upcoming earnings reports could be the next catalyst that U.S. equities need to keep rallying. Tesla’s earnings expected Wednesday after the bell will kick off highly-awaited reports from the “Magnificent Seven” megacap tech group. More than three-quarters of the S&P 500 companies that have posted results so far have beaten expectations.
Prices for the 10-year Treasury fell slightly, raising yields to 3.97% from Tuesday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.42 to $58.60 U.S. a barrel.
Gold prices skidded $33.40 to $4,074.60 U.S. an ounce.
