Wednesday's early trade: S&P rises; Tesla, Microsoft shine ahead of results

NEW YORK: The S&P 500 ticked higher in a choppy session on Wednesday as a boost from Microsoft and optimism about another round of stimulus for the virus-stricken economy countered worries over worsening ties between the United States and China.

Tesla Inc and Microsoft Corp rose 1.2% and 0.8% in the run up to their quarterly reports due after markets close.

A largely upbeat start to the second-quarter earnings season, hopes for an eventual Covid-19 vaccine and an expected official support for the economy has brought the S&P 500 within 4% below its record February closing high.

At 11:39 a.m. ET, the Dow Jones Industrial Average was up 85.53 points, or 0.32%, at 26,925.93, the S&P 500 was up 6.02 points, or 0.18%, at 3,263.32. The Nasdaq Composite was down 0.61 points, or 0.01%, at 10,679.76.