US Stocks Flat As Some Earnings Cite Weakening Economy

Wall Street stocks were little changed early Wednesday following a trove of mixed earnings that included some cautionary notes about the economy

New York, (UrduPoint / Pakistan Point News - 23rd Oct, 2019 ) :Wall Street stocks were little changed early Wednesday following a trove of mixed earnings that included some cautionary notes about the economy.

Analysts cited as concerning remarks from Caterpillar about global economic uncertainty as the company cut its profit forecast.

Another worrisome sign came from Texas Instruments, which reported a drop in revenues and said "most markets weakened further." On the positive side for stocks, "the demand warnings from Caterpillar and Texas Instruments have likely cemented an October rate cut in the market's mind, which is seemingly always stimulated by the idea of monetary policy staying accommodative," analyst Patrick O'Hare wrote at Briefing.

com.

About 10 minutes into trading, the Dow Jones Industrial Average stood at 26,840.21, up 0.2 percent.

The broad-based S&P 500 was essentially flat at 2,996.88 and theNasdaq Composite Index slipped less than 0.1 percent to 8,102.22.