U.S. indexes were off their session lows on Wednesday as a rally in semiconductor stocks on reassuring comments from Texas Instruments on global chip demand blunted the impact of weak earnings from bellwethers Boeing and Caterpillar.
Trade-sensitive Caterpillar Inc (CAT.N) dropped 4.1% following disappointing earnings on weak sales in China, and higher production and restructuring costs.
Boeing Co (BA.N) slipped 2% after the world’s largest planemaker posted its biggest loss in decades on the back of this year’s grounding of its best-selling 737 MAX planes after two deadly crashes.
At 10:58 a.m. ET, the Dow Jones Industrial Average was down 120.83 points, or 0.44%, at 27,228.36, the S&P 500 was up 1.08 points, or 0.04%, at 3,006.55. The Nasdaq Composite was up 10.49 points, or 0.13%, at 8,261.90.