US stocks were little changed on Wednesday as caution before comments from Federal Reserve Chairman Ben Bernanke on the economy and interest rates offset optimism over solid earnings news. Shares of Wall Street firm Morgan Stanley jumped 9.8 percent to $27.68, their biggest one-day percentage gain since April 2009, after it reported higher-than-expected profit. Wells Fargo & Co bank rose 3 percent to $26.69 after its results.
The Dow Jones industrial average was down 1.36 points, or 0.01 percent, at 10,228.60. The Standard & Poor's 500 Index was down 1.19 points, or 0.11 percent, at 1,082.29. The Nasdaq Composite Index was down 7.09 points, or 0.32 percent, at 2,215.40. Bernanke will begin at 2 pm (1800 GMT) and is also set to deliver the same report before a House committee on Thursday.
Comments
Comments are closed.