US stocks close mixed

New York: US stocks ended mixed as Wall Street digested a slew of mixed earnings reports.

The Dow Jones Industrial Average fell 79.22 points, or 0.29 percent, to 27,269.97 on Wednesday. The S&P 500 rose 14.09 points, or 0.47 percent, to 3,019.56. The Nasdaq Composite Index gained 70.10 points, or 0.85 percent, to 8,321.50, Xinhua reported.

Caterpillar shares slid 4.48 percent after the company reported quarterly earnings and revenue that both missed market expectations.

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Boeing, another Dow component, also posted weaker-than-anticipated earnings for the previous quarter, sending the stock down 3.12 percent at Wednesday’s close.

Texas Instruments surged 7.44 percent, leading the gainers in the tech-heavy Nasdaq, boosted by its stronger-than-expected quarterly results.

Eight of the 11 primary S&P 500 sectors closed higher, with financials up 0.91 percent, outpacing the rest. Consumer staples dipped 0.64 percent, the worst-performing group.

About a quarter of S&P 500 companies had reported quarterly earnings through Wednesday’s open. Of those companies, 78 percent have posted a better-than-expected profit, according to FactSet data.

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