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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

US open: Stocks little changed ahead of key data, corporate earnings

(Sharecast News) - Wall Street's main market gauges were little changed following a record close during the previous session. Investors were also waiting on a preliminary reading for fourth quarter US GDP on Thursday and key inflation readings on Friday.

Ahead of those reports, Wednesday would bring with it the quarterly numbers from Tesla, the first of the so-called 'Magnificent Seven' tech stocks that were yet to report to the market.

"Thus far we have seen a particular focus on the banking sector, with 30% of the financials having reported. However, we will be looking for greater insight into US consumers today, with both cyclicals and non-cyclicals having thus far struggled to match market expectations around revenues," said analyst Joshua Mahony from Scope Markets.

Against that backdrop, as of 1602 GMT the Dow Jones Industrials was drifting lower by 0.37% or 140.36 points to 37,853.56.

In parallel, the S&P 500 was off by 0.03% to 4,848.93 and the Nasdaq Composite was edging up by 0.05% to 15,371.11.

Aerospace outfit RTX's shares were trading higher by 7% after it posted better-than-expected fourth quarter profits and revenues.

Verizon also pleased investors, who pushed the telecom company's shares up by 6% on the back of its latest quarterly subscriber numbers.

Johnson&Johnson shares on the other hand dipped 2% despite beating analysts' estimates for its quarterly results.

Netflix, Texas Instruments and Baker Hughes were due to publish results after the market close.

Dow Jones - Risers

Verizon Communications Inc. (VZ) $41.87 5.79% Procter & Gamble Co. (PG) $154.93 4.78% Nike Inc. (NKE) $101.45 0.89% Dow Chemical Co. (DOW) $53.83 0.50% Unitedhealth Group Inc. (UNH) $515.34 0.46% International Business Machines Corporation (CDI) (IBM) $173.54 0.41% Coca-Cola Co. (KO) $59.74 0.29% Apple Inc. (AAPL) $194.40 0.26% American Express Co. (AXP) $185.45 0.24% McDonald's Corp. (MCD) $298.86 0.15%

Dow Jones - Fallers

3M Co. (MMM) $96.76 -10.43% Johnson & Johnson (JNJ) $158.63 -2.36% Goldman Sachs Group Inc. (GS) $379.30 -1.73% Walt Disney Co. (DIS) $93.74 -1.41% Home Depot Inc. (HD) $351.69 -1.40% Travelers Company Inc. (TRV) $211.24 -1.22% Intel Corp. (INTC) $47.83 -0.82% JP Morgan Chase & Co. (JPM) $168.95 -0.68% Merck & Co. Inc. (MRK) $118.73 -0.59% Boeing Co. (BA) $214.27 -0.31%

S&P 500 - Risers

RTX Corporation (RTX) $90.79 6.79% Verizon Communications Inc. (VZ) $41.87 5.79% Procter & Gamble Co. (PG) $154.93 4.78% Advance Auto Parts (AAP) $68.04 3.98% Estee Lauder Co. Inc. (EL) $129.99 3.82% United Airlines Holdings Inc (UAL) $39.89 3.74% American Airlines Group (AAL) $14.06 3.20% Alaska Air Group Inc. (ALK) $35.78 2.73% TripAdvisor Inc. (TRIP) $21.70 2.65% Southwest Airlines Co. (LUV) $30.95 2.62%

S&P 500 - Fallers

3M Co. (MMM) $96.76 -10.43% D. R. Horton Inc. (DHI) $143.38 -9.08% Invesco Ltd. (IVZ) $16.31 -6.21% Lennar Corp. Class A (LEN) $147.49 -5.01% PulteGroup Inc. (PHM) $103.81 -4.97% Quanta Services Inc. (PWR) $193.85 -4.72% Mohawk Inds Inc. (MHK) $97.47 -3.45% Masco Corp. (MAS) $66.78 -3.28% Kohls Corp. (KSS) $25.36 -2.69% Teleflex Inc. (TFX) $246.11 -2.56%

Nasdaq 100 - Risers

Baidu Inc. (BIDU) $106.95 7.25% NetEase Inc. Ads (NTES) $96.80 6.49%, Inc. (JD) $22.99 6.12% Qurate Retail Inc. (QRTEA) $0.86 4.92% Group Limited (TCOM) $36.17 3.49% American Airlines Group (AAL) $14.06 3.20% PACCAR Inc. (PCAR) $99.62 2.60% Seagate Technology Plc (STX) $88.88 2.04% Paypal Holdings Inc (PYPL) $64.90 1.82% Meta Platforms Inc. (META) $387.95 1.62%

Nasdaq 100 - Fallers

Micron Technology Inc. (MU) $87.06 -2.44% Align Technology Inc. (ALGN) $265.10 -2.40% DENTSPLY Sirona Inc. (XRAY) $35.42 -2.34% Monster Beverage Corp (MNST) $55.15 -2.08% Intuitive Surgical Inc. (ISRG) $368.32 -1.99% Sirius XM Holdings Inc (SIRI) $5.34 -1.38% Idexx Laboratories Inc. (IDXX) $525.17 -1.18% Applied Materials Inc. (AMAT) $166.34 -1.16% Cadence Design Systems Inc. (CDNS) $292.41 -1.12% J.B. Hunt Transport Services Inc. (JBHT) $205.28 -1.11%

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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