U.S. stock indexes on Wednesday bounced around at the open, with the Dow attempting to avoid falling for a second session in a row as appetite for assets perceived as risky stalled and crude prices slumped, weighing on the broader market.
The Dow Jones Industrial Average edged up 20 points, or 0.1%, at 26,072, the S&P 500 index was up less than 0.1% at 2,887, while the Nasdaq Composite Index fell 0.1% at 7,814.
Weakness in the information technology stocks, which have been among the best forming sectors in the market, were helping to lead the market lower along with energy shares.
A late-Tuesday report from the American Petroleum Institute showed that U.S. crude stockpiles climbed more than expected last week, implying weakening demand, dragging West Texas Intermediate oil futures sharply lower Lingering trade tensions over international trade relations and questions over whether the Federal Reserve will cut interest rates in coming meetings has been a key catalyst for markets.
Source : MarketWatch