Investing.com – Wall Street was flat on Wednesday despite higher-than-expected earnings from General Motors (NYSE:GM). GM outlined an upbeat 2019 outlook as its efforts to reshape itself have paid off.
The Detroit-based automaker jumped 3% after the morning bell.
The S&P 500 fell 1 point, or 0.07%, as of 9:32 AM ET (14:32 GMT), while the Dow lost 27 points, or 0.11%, and the tech-heavy Nasdaq Composite increased 4 points, or 0.07%.
Snap Inc (NYSE:SNAP) jumped 23% on news that its user base is stabilizing. Walt Disney (NYSE:DIS) inched up 0.19% after its fourth-quarter earnings were higher than expected, with a welcome improvement in its broadcast TV division.
Tesla (NASDAQ:TSLA) inched up 0.6% amid news that it is lowering the price of its Model 3 for the second time this year.
Elsewhere, Spotify (NYSE:SPOT) fell 5% after reports that it is in talks to acquire Gimlet Media, which overshadowed news that it’s fourth-quarter operating income, net income and free cash flow were positive for the first time in company history. Netflix (NASDAQ:NFLX) fell 0.5%, while Take-Two (NASDAQ:TTWO) slumped 12% after its revenue forecast for the next quarter was lower than expected.
Investors are also looking ahead to remarks from Federal Reserve Chair Jerome Powell after the central bank signaled it would pause its monetary policy over the next year.
In commodities, gold futures fell 0.14% to $1,317.35 a troy ounce while crude oil slipped 0.6% to $53.34 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.12% to 95.933.