If you were hoping for a repeat of Tuesday’s chip-fueled rally, Wednesday had other plans.
The major indexes are moving in different directions on Wednesday morning as an oil price spike and anticipation of key earnings reports create a split market
The Dow Jones Industrial Average (DJINDICES: ^DJI) is up 0.2%, gaining support from traditional blue chip stocks. The S&P 500 (SNPINDEX: ^GSPC) is barely positive at 0.1%, caught between strength in industrials and weakness in technology. The Nasdaq Composite (NASDAQINDEX: ^IXIC) is down 0.1%.
The tech-heavy index is taking a breather after the proverbial Silicon Valley carried the market yesterday. The morning started rough. All three indexes opened lower, with the Nasdaq briefly dipping 0.6% before lunch.