Stock indexes waver in early trade on earnings
NEW YORK (AP) — Stock indexes are stuck in a tight range in early trading as investors consider a mixed batch of company earnings.
Facebook slumped 7 percent Wednesday after the company warned investors that it will spend significant amounts of money next year on its work force and developing its services.
Orbital Sciences plunged 14 percent after its unmanned rocket bound for the International Space Station exploded moments after liftoff late Tuesday. Videogame maker Electronic Arts rose 5 percent after its earnings came in ahead of analysts' estimates.
The Wall Street subway stop on Broadway, in New York's Financial District, Thursday, Oct. 2, 2014. Global stock markets swung higher Wednesday, Oct. 29, 2014 cheered by a surge in U.S. stocks that were buoyed by solid earnings, while investors were also waiting for signs from the Federal Reserve on U.S. monetary policy. (AP Photo/Richard Drew)
The Standard & Poor's 500 rose a point to 1,986 as of 9:35 a.m. Eastern.
The Dow Jones industrial average gained 27 points, or 0.2 percent, to 17,033. The Nasdaq composite fell nine points, or 0.2 percent, to 4,555.
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