Stocks held steady in morning trading Wednesday as more U.S. companies released their latest quarterly earnings.
According to The Associated Press, the S&P 500 rose 0.1%, the Dow Jones Industrial Average gained 65 points, or 0.1%, and the Nasdaq composite added 0.3% as of 9:48 a.m. Eastern time.
Companies across multiple sectors posted results and forecasts that moved individual stocks.
Axon Enterprise slumped 17.3% after forecasting weaker profits than analysts expected. Live Nation Entertainment fell 6.4% after missing estimates.
On the upside, McDonald’s rose 3.1% as the return of its popular Snack Wraps boosted third-quarter sales.
With the federal government shutdown halting key economic reports, Wall Street has turned to corporate earnings for insight into consumer and business health.
Regular updates on inflation and employment remain paused, leaving investors and the Federal Reserve with an incomplete picture of the economy.
Private data continues to fill some of the gaps. A monthly ADP report showed private payrolls rose more than expected in October, offering a limited look at a labor market that has shown signs of cooling.
In the bond market, Treasury yields edged higher, with the 10-year yield rising to 4.12% from 4.09% late Tuesday.
Overseas, European markets were mostly lower, while Asian markets closed largely in the red.
