The Dow Jones industrial average fell 38 points, or 0.2 percent, to 18,494 as of 11:41 a.m.
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NOT IN STYLE: Michael Kors slid 1.8 percent after the clothing company forecast weaker sales for the current quarter and lowered its outlook for sales at established stores.
Nasdaq 100 e-minis were up 6.25 points, or 0.13 percent, on volume of 12,813 contracts.
“It’s August. There’s not a log of news and we’re done with most earnings”, said Maris Ogg, president at Tower Bridge Advisors.
The S&P 500 energy index fell 0.78 percent.
Asian markets meandered on Wednesday in a post-earnings season lull, as investors awaited USA retail sales later in the week. “But sometimes that’s when you get some real moves in the market”.
OIL: A bigger-than-expected increase in USA oil stockpiles last week weighed on the price of crude, reversing an early gain.
The S&P 500 index showed eight new 52-week highs and two new lows, while the Nasdaq recorded 35 new highs and eight new lows.
WHERE’S THE REVENUE: Wendy’s fell 4.8 percent after the hamburger chain said a key sales measure fell sharply in its latest quarter.
Perrigo PRGO.N dropped 10 percent after reporting a lower-than-expected profit and slashing its earnings forecast. The Standard & Poor’s 500 index shed six points, or 0.3 percent, to 2,174.
The Nasdaq is up 218.07 points, or 4.4 percent.
Shares of Walt Disney rose 2.2 percent to $98.75, after the company reported results overnight and bought a 33 percent stake in video-streaming firm BAMTech. South Korea’s Kospi added less than 0.1 percent. The contract fell 25 cents, or 0.6 percent, to close at $42.77 per barrel on Tuesday, ending a rally after the USA government raised the forecast on domestic crude production. Stocks in Taiwan and Singapore were higher but markets in China, Indonesia and New Zealand declined.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. July 25, 2016.
BONDS AND CURRENCIES: Bond prices rose. Brent crude, used to price global oils, was down 81 cents, or 1.8 percent, at $44.18 per barrel in London.
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Yelp surged as its second-quarter results late on Tuesday topped analysts’ expectations, but SunPower Corp. tumbled after the solar panel maker downgraded its guidance and said it will cut 1,200 jobs. In currency markets, the dollar weakened to 101.19 yen from 101.90 on Tuesday, while the euro strengthened to $1.1179 from $1.1107.
