Wall Street edged higher on Wednesday, led by gains in Boeing and Apple shares, even as weak earnings from Caterpillar and Texas Instruments raised concerns about the impact of the U.S.-China trade war on global growth.
Apple Inc’s shares rose 1.2% after Morgan Stanley said the iPhone maker’s soon-to-be-launched video streaming service, Apple TV+, could boost its services revenue.
Boeing’s shares rose 2%, lifting the blue-chip Dow Jones index, after the world’s largest planemaker reaffirmed the timeline for its grounded 737 MAX’s return to service, as investors looked past a 53% drop in quarterly profit.
The S&P 500 has hovered near its record high this week after signs of progress in trade talks between the world’s top two economies.
Investors are now waiting for results from big tech firms, with Microsoft Corp scheduled to report after markets close.
At 12:09 p.m. ET, the Dow Jones Industrial Average was up 24.58 points, or 0.09%, at 26,812.68, while the S&P 500 was up 2.74 points, or 0.09%, at 2,998.73. The Nasdaq Composite was up 0.83 points, or 0.01%, at 8,105.12. A 1.6% gain in Facebook boosted the tech heavy index after CEO Mark Zuckerberg sought to reassure U.S. lawmakers about its planned digital currency, Libra.
Source : Reuters