The Nasdaq fell on Wednesday, weighed down by technology heavyweight Apple's profit miss, but gains in chipmaker Intel and insurer Travelers kept the S&P near the unchanged mark. Intel Corp climbed 4.6 percent to $24.47 after the chipmaker forecast quarterly revenue above expectations.
Travelers Cos Inc advanced 6.6 percent to $54.85 and was the top boost to the Dow after it said it will ramp up a share buyback dramatically. The KBW insurance index advanced 1 percent. Apple Inc's revenue and profits came in below estimates for the first time in years on Tuesday as it sold far fewer iPhones than expected. The stock fell 4 percent to $405.25.
The Dow Jones industrial average gained 50.10 points, or 0.43 percent, to 11,627.15. The Standard & Poor's 500 Index added 0.99 points, or 0.08 percent, to 1,226.37. The Nasdaq Composite Index dropped 10.47 points, or 0.39 percent, to 2,646.96. The S&P 500 has struggled to advance as it approaches the top end of a two-month trading range at around 1,250, having gained 8.6 percent for October.