U.S. stocks reversed early losses to end higher Wednesday as Wall Street digested a string of quarterly earnings results.
The Dow Jones Industrial Average rose 6.13 points, or 0.03 percent, to 23,563.36. The S&P 500 added 3.74 points, or 0.14 percent, to 2,594.38. The Nasdaq Composite Index was up 21.34 points, or 0.32 percent, to 6,789.12.
After Tuesday's closing bell, Snap Inc. announced financial results for the third quarter of 2017. The social media company reported third-quarter net loss of 443 million U.S. dollars, or a loss of 36 cents a share, compared with a loss of 124.2 million dollars, or 15 cents a share, in the year-ago period.
Following the release of the weak quarterly results, shares of Snap slumped 14.62 percent to 12.91 dollars apiece Wednesday.
Shares of LendingClub Corporation plummeted about 15.93 percent to 4.59 dollars apiece after the peer-to-peer lending company posted worse-than-expected quarterly revenue and offered a disappointing fourth-quarter outlook.
The latest data from Thomson Reuters showed that the S&P 500 companies' earnings in the third quarter of 2017 are expected to rise 7.9 percent year on year, while the revenues are forecast to increase 5.2 percent.
There is no major economic data due out Wednesday.
Analysts said investors' sentiment was boosted by expectations that the Trump administration, a year after he was elected into office, will deliver tax reform and other business-friendly measures.
The Dow Jones Industrial Average rose 6.13 points, or 0.03 percent, to 23,563.36. The S&P 500 added 3.74 points, or 0.14 percent, to 2,594.38. The Nasdaq Composite Index was up 21.34 points, or 0.32 percent, to 6,789.12.
After Tuesday's closing bell, Snap Inc. announced financial results for the third quarter of 2017. The social media company reported third-quarter net loss of 443 million U.S. dollars, or a loss of 36 cents a share, compared with a loss of 124.2 million dollars, or 15 cents a share, in the year-ago period.
Following the release of the weak quarterly results, shares of Snap slumped 14.62 percent to 12.91 dollars apiece Wednesday.
Shares of LendingClub Corporation plummeted about 15.93 percent to 4.59 dollars apiece after the peer-to-peer lending company posted worse-than-expected quarterly revenue and offered a disappointing fourth-quarter outlook.
The latest data from Thomson Reuters showed that the S&P 500 companies' earnings in the third quarter of 2017 are expected to rise 7.9 percent year on year, while the revenues are forecast to increase 5.2 percent.
There is no major economic data due out Wednesday.
Analysts said investors' sentiment was boosted by expectations that the Trump administration, a year after he was elected into office, will deliver tax reform and other business-friendly measures.
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