U.S. stocks shrugged off a midday selloff to finish mostly higher on Wednesday, as investors weighed a round of solid corporate earnings with ongoing uncertainty surrounding the U.S.-China trade talks.
The Dow Jones Industrial Average was the best-performing major index, closing up around 170 points, or 0.7%, aided by solid earnings from IBM Corp. and Procter & Gamble Co. The S&P 500 finished up 0.2% and the Nasdaq Composite Index was up less than 0.1%.
In other company news, shares of Tesla Inc. fell more than 4% after RBC downgraded the stock to underperform and cut its price target to $245 from $290. Elsewhere, citing the government shutdown, House Speaker Nancy Pelosi said she would not authorize President Donald Trump to give his State of the Union speech in the chamber.
Source : Marketwatch