Stocks – Wall Street Mixed After Pepsi, Morgan Stanley Earnings – Investing.com



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Investing.com – Wall Street was mixed on Wednesday even after upbeat earnings from Morgan Stanley and PepsiCo, while positive Chinese economic data eased global slowdown concerns.

The rose 1 point or 0.05% by 9:47 AM ET (13:47 GMT), while the was down 41 points or 0.2% and the tech-heavy gained 28 points or 0.4%.

China’s grew by 6.4% in the first quarter, which, along with and data, eased concerns that the second largest economy in the world is slowing. Still, the U.S. and China have yet to reach a trade deal and concerns remain that the growth could be temporary.

PepsiCo (NASDAQ:) gained 2.6% its were better than expected, with organic revenue growing by 5.2%. Qualcomm (NASDAQ:) surged 16% after rising 23% on Tuesday after news that it settled with Apple (NASDAQ:) on a patent dispute.

The last of the big banks to report, Morgan Stanley (NYSE:) was up 0.6% after its than expected during a weak quarter. U.S. Bancorp (NYSE:) also joined other banks in a as market volatility ate into profits.

Meanwhile, CVS Health Corp (NYSE:) fell 1.2%, while Abbott Labs (NYSE:) slipped 2% despite reporting a strong first quarter. Healthcare stocks were also down, with Anthem (NYSE:) down 4.6% and UnitedHealth (NYSE:) losing 3.3%.

In commodities, inched up 0.07% to $1,278.05 a troy ounce while gained 0.3% to $64.20 a barrel. The , which measures the greenback against a basket of six major currencies, was down slightly at 96.618.

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