Wednesday's early afternoon trade: Dow inches up to record-high


Shares of Bank of America briefly rose more than 1 percent in the premarket after reporting earnings and revenue that topped expectations.

The Dow gained 0.4 percent for the week, while S&P rose 0.2 percent.

USA market indexes were lower Thursday. "There seems to be money searching for stocks and looking for investments, simply because the momentum is still positive", said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "So I imagine there's cash coming in off the sidelines". Meanwhile, Intel Corporation (NASDAQ:) added 1.22% or 0.48 points to end at 39.67 and Procter & Gamble Company (NYSE:) was up 0.97% or 0.89 points to 93.04 in late trade.

The Dow Jones eased 31.87 points, down 0.14% at 22,841.02 while the S&P 500 lost 3.4 points at 2,551.84. Each index recorded a fifth consecutive week of gains.

The gains were led by Apple and Facebook and Microsoft, which rose between 0.45 per cent and 1 per cent.

USA indexes were lower as investors watched third-quarter bank earnings.

The banking giant reported quarterly revenue of 21.9 billion USA dollars, down two percent on a year-over-year basis.

The Russell 2000 is down 7.56 points, or 0.5 percent.

The Dow is up 67.34 points, or 0.3 percent. The Dow Jones Small-Cap Value TSM Index closed at 10,069.27 for a loss of 4.22 points or 0.04%.

The reports from the Wall Street banks kicked off the third-quarter earnings season, with investors hoping profit growth will help justify valuations after a rally that has sent the S&P 500 up about 14 per cent so far this year.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1800 to 1265 and 143 ended unchanged; on the Nasdaq Stock Exchange, 1359 fell and 1147 advanced, while 139 ended unchanged.

AT&T plunged 5.7% after the No. 2 United States wireless carrier said it lost 90,000 USA video subscribers in the third quarter due to intense competition and the impact of recent hurricanes. That compares with the 6.1 billion daily average for the past 20 trading days, according to Thomson Reuters data.