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US stock indexes wobbled as investors geared up for the Federal Reserve’s policy decision this week and evaluated a batch of earnings.
The S&P 500 was recently up 0.2%, a day after a late rally lifted stocks on Monday. The technology-focused Nasdaq Composite lost 0.2% while the Dow Jones Industrial Average was off 0.1%. Eight of the S&P’s 11 industry subsectors were in the green.
Earlier on the day, US stocks edged higher on Wall Street in afternoon trading Tuesday as investors await Wednesday’s decision by the Federal Reserve on interest rates.
The S&P 500 was up 0.4% as of 2:51 p.m. Eastern. The Dow Jones Industrial Average rose 46 points, or 0.1%, to 33,107 and the Nasdaq inched up 0.1%. The indexes briefly dipped into the red earlier in the day, reflecting choppy trading.
Energy stocks made solid gains following encouraging earnings reports from several oil and gas companies. BP jumped 7.5% after reporting its highest quarterly profit in more than a decade thanks to surging oil and gas prices. Devon Energy rose 8.6% and Diamondback Energy gained 6.1% after they reported strong financial results.
Technology stocks held on to slight gains after a mixed morning. Many companies in the sector have pricey stock values and therefore have more force in pushing the major indexes up or down. Apple rose 0.6%.
