U.S. stocks traded mixed Wednesday morning, a day after the S&P 500 and Nasdaq carved out their first records in months, completing a rebound from an ugly decline in the last three months of 2018.
What’s driving the market? Corporate quarterly results remain a central focus for Wall Street midweek. More than a fifth of the S&P 500 constituents have reported results, with nearly 80% of those companies producing earnings results that topped analysts consensus estimates, compared with about 65% in the fourth quarter, according to data from Refinitiv.
Against the backdrop of earnings, the record climb for markets Tuesday, however, failed to provide a significant catalyst for Asian markets, market participants point out, with that being viewed as a signal that some caution about the recent ascent remains. The offer comes after Chevron Corp. CVX, -1.90% had announced an agreement to buy Anadarko that would have valued the company at $65 per share.
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