Investing.com – Wall Street was down Wednesday morning, despite upbeat earnings releases and a European stocks rally.
The S&P 500 fell a point or 0.05% as of 10:00 AM ET (3:00 PM GMT) while the Dow was three points or 0.01%. Tech heavy NASDAQ Composite was down three points or 0.04%.
Financial giant BlackRock Inc (NYSE:BLK) was up 0.39% after reporting an 8.2% rise in third quarter profit and beating analysts’ estimates. Delta Air Lines Inc (NYSE:DAL) rose 0.76% after it reported an increase in revenue during the third quarter.
Shares in Kroger (NYSE:KR) jumped over 5.0% after the company said it was considering selling its convenience stores, as it faces stiff competition from Amazon (NASDAQ:AMZN) and Walmart. Other grocery store firms also rose, with Target Corporation (NYSE:TGT) increasing 3.18% and Sprouts Farmers Market Inc (NASDAQ:SFM) up 1.03%. Meanwhile Amazon.com Inc (NASDAQ:AMZN) inched forward 0.42% and Wal-Mart (NYSE:WMT) rose 1.23%.
Semiconductor manufacturing firm Intel (NASDAQ:INTC) was among the biggest losers, falling 1.33% while networking firm Juniper Networks Inc (NYSE:JNPR) was down 3.15% after Bank of America (NYSE:BAC) downgraded the company to neutral.
Bank stocks were also down ahead of earnings on Thursday. Citigroup (NYSE:C) fell 0.28% while Bank of America Corp (NYSE:BAC) decreased 0.55% and JPMorgan Chase (NYSE:JPM) was down 0.61%.
In Europe, stocks were up as Catalan independence was postponed. Spain’s IBEX 35 rallied 1.45%, while in Germany the DAX ticked up 0.14%. France’s CAC 40 fell 0.07% while London’s FTSE 100 was flat. Euro Stoxx 50 rose 0.27%.
Gold futures fell to $1,291.02 an ounce while crude oil fell $50.88 a barrel. The U.S dollar index, which measures the greenback against a basket of six major currencies, fell to 92.91.