NEW YORK (AP) — Stocks are mostly higher at midday today as investors react to the latest fourth-quarter earnings reports from corporate America. Technology companies are climbing and American Airlines is rallying after it beat analysts’ expectations. Spice maker McCormick is sinking.
The European Central Bank confirmed it plans to leave interest rates unchanged until this summer, and left its support from the European economy unchanged despite a variety of concerns including trade tensions, slowing economic growth, and the effects of Britain’s pending departure from the European Union.
The S&P 500 index added 2 points, or 0.1 percent, to 2,652 as of 11:40 a.m. Eastern time. The Dow Jones Industrial Average was little changed at 24,582. The Nasdaq composite added 35 points, or 0.5 percent, to 7,060. The Russell 2000 added 6 points, or 0.5 percent, to 1,461.
American Airlines rallied 4.9 percent to $33.21 after reporting solid results in its latest quarter, and Southwest climbed 4 percent to $53.06. JetBlue jumped 4.9 percent to $18.08. Some carriers warned, however, that the partial shutdown of the federal government will cost them money in January. Southwest said the shutdown could cost up to $15 million, echoing Delta’s warning earlier this month that it would cost that company $25 million in revenue.