Wednesday proved to be another choppy day for the major U.S. stock averages as investors assessed earnings reports, fresh inflation data and Federal Reserve minutes.
The S&P 500 and Nasdaq Composite each closed the session higher to break three-day losing streaks, while the Dow Jones Industrial Average closed essentially flat after rallying off its lows of the day.
JPMorgan and Delta Air Lines both saw their shares fall after quarterly earnings reports before the bell.
Despite JPMorgan’s better-than-expected profit and revenue, the bank stock fell 2.6%. Delta Air Lines posted its first quarterly profit without federal aid since the start of the pandemic, but said higher fuel costs would weigh on its fourth-quarter profit. Shares of Delta sank nearly 5.8%, and the stock was a major laggard on the S&P 500.
