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Stocks waver in midday trade after mixed earnings reports

Trader Vincent Quinones works on the floor of the New York Stock Exchange Tuesday, April 14, 2015. Stocks are edging higher in early trading as U.S. company earnings begin to come in. (AP Photo/Richard Drew)
Trader Vincent Quinones works on the floor of the New York Stock Exchange Tuesday, April 14, 2015. Stocks are edging higher in early trading as U.S. company earnings begin to come in. (AP Photo/Richard Drew)

By Associated Press 1 min read

NEW YORK (AP) – U.S. stocks were moving between small gains and losses in midday trading as investors reacted to mixed corporate earnings.

JPMorgan Chase rose Tuesday after reporting first-quarter results that beat expectations.

The Dow Jones industrial average was up 32 points, or 0.2 percent, to 18,010 as of 11:45 a.m. Eastern time.

The Standard & Poor’s 500 was little changed at 2,092. The Nasdaq composite fell 21 points, or 0.4 percent, to 4,966.

Companies in the S&P 500 are expected to report a 3 percent slump in earnings in the first quarter, the first quarterly drop since the U.S. was climbing out of recession in 2009. Much of the blame goes to a steep drop in oil prices.