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US stocks little changed, oil shares gain

AFP
Petroleum-linked equities rose with oil prices in opening trading

Petroleum-linked equities rose with oil prices in opening trading Wednesday as US stocks were little changed following mixed earnings reports.

Dow member Chevron rose 1.1 percent and Schlumberger was up 1.4 percent as oil prices advanced.

Among companies reporting earnings, Morgan Stanley jumped 1.8 percent but Dow member Intel slumped 5.4 percent following a disappointing outlook.

Overall, stocks were little changed. Five minutes into trading, the Dow Jones Industrial Average was at 18,194.78, up 0.2 percent.

The broad-based S&P 500 added 0.1 percent at 2,141.53, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 5,240.36.