Investing.com - Wall Street was mixed on Wednesday after disappointing financial reports from Boeing (NYSE:BA) and General Motors (NYSE:GM).
The S&P 500 fell 1.5 points, or 0.05%, to 2,818.88 as of 9:38 AM ET (13:38 GMT), while the Dow decreased 62 points, or 0.25%, to 25,178.98 and the tech-heavy Nasdaq Composite gained 14 points, or 0.18%, to 7,855.03.
Aerospace giant Boeing (NYSE:BA) fell 2.49% after its earnings per share were lower than expected, while General Motors(NYSE:GM) decreased 6.68% after missing its revenue forecast.
Meanwhile, AT&T (NYSE:T) fell 2.02% after reporting a decline in service and organic revenues, while Tesla (NASDAQ:TSLA) dipped 0.54% and Fiat Chrysler (NYSE:FCAU) slumped 9.44% after the automaker cut its 2018 outlook.
Elsewhere, Coca-Cola (NYSE:KO) rose 2.10% after its earnings came in higher than expected, while Twitter (NYSE:TWTR) was up 2.03%.
Traders are turning their attention to Facebook (NASDAQ:FB), Ford Motor (NYSE:F), Qualcomm (NASDAQ:QCOM) and others reporting their financial earnings after the closing bell.
Trade tensions also weighed on investors minds as U.S. President Donald Trump and European Commission President Jean-Claude Juncker meet at the White House at 1:30 PM ET (19:30 GMT) on Wednesday to discuss tariffs.
The U.S. imposed steep tariffs on steel and aluminum imports from the EU and has threatened to extend tariffs to the auto sector. The EU has prepared retaliatory action if the car tariffs are imposed.
In Europe, stocks were down. Germany’s DAX fell 77 points, or 0.61%, while in France the CAC 40 decreased 8 points, or 0.16%, and in London, the FTSE 100 was down 60 points, or 0.78%. Meanwhile, the pan-European Euro Stoxx 50 lost 15 points, or 0.46%, while Spain’s IBEX 35 inched down 54 points, or 0.55%.
In commodities, gold futures rose 0.66% to $1,233.60 a troy ounce, while crude oil futures increased 0.13% to $68.61 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.26% to 94.14.