Wall Street stocks were mixed early Wednesday, treading water after the prior session’s pullback that came amid worries over soaring inflation and an economic slowdown.
After last week’s rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
But early in the session Wednesday “there isn’t much conviction on the buy side or sell side at this point,” said Briefing.com analyst Patrick O’Hare.
About 20 minutes into trading, the Dow Jones Industrial Average was up 0.5 percent at 31,103.17.
The broad-based S&P 500 added 0.1 percent at 3,825.61, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Among individual companies, General Mills rose 3.8 percent after reporting that quarterly profits more than doubled to $825.8 million on an eight percent rise in revenues.
Bed Bath & Beyond plunged more than 20 percent after reporting quarterly loss following a 25 percent drop in quarterly sales. The company announced that it was replacing Mark Tritton as chief executive with interim leader Sue Gove.