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U.S. stocks were little changed on Wednesday, suggesting stocks could continue to struggle for direction as investors continue to look for the next big catalyst for trading.
Wall Street will be looking forward to details on Apple Inc.'s latest iPhones, which could be influenced by the country's largest company, along with comments from the Federal Reserve officials and the central bank's beige book report.
What are the main benchmarks doing?
The Dow Jones Industrial Average
DJIA, -0.01%
rose 20 points, less than 0.1% gold, to 25.993. The S & P 500
SPX, -0.21%
was up 2 points to 2,890, a rise of less than 0.1%. The Nasdaq Composite Index
COMP -0.84%
dipped 14 points, or 0.2%, to 7.958.
Both the S & P and the Nasdaq have risen for two straight sessions, through Tuesday, though that comes after a four-day decline. Recent trading has been muted, however. The S & P has not closed with a move of 0.5% in one direction in any session thus far this month.
So far this year, the three gauges have scored year-to-date as of 5.2% to 15.3%, as of Tuesday's close.
Do not miss: Do not expect big stock gains for several years, Morgan Stanley warns
What's driving markets?
Trade tensions between the U.S. and its partners, but American equities have continued to be boosted by encouraging economic reports and companies' upbeat quarterly reports.
Investors this week have been tracking the fight between the US and China in particular, as analysts warn that a full-blown trade war would hurt economic growth.
Opinion: Apple and other companies sound the alarm on Trump's China tariff plans
Energy stocks could see a rose. Prices gained as Hurricane Florence barreled towards the East Coast, boosting demand and raising worries about disruptions to gasoline flows and pipelines in the region.
In the latest economic data, the wholesale cost of U.S. goods and services fell in a year and a half in the recent upsurge in inflation appeared to ease.
What are strategists saying?
"There's likely to be a lot of moving on the front lines, which means we can be up and running down the next," said J.J. Kinahan, chief market strategist at TD Ameritrade.
Referring to some recent weakness, Kinahan said, "You have to separate yourself from the market. It makes sense that we could see a lot of things that we have seen in the past. But I do not see a change in the market; the numbers continue to point to a strong economy. "
Which stocks are in focus?
Shares in Apple Inc.
AAPL, -1.19%
fell 0.6% ahead of its event What is it? Thus far this year, the stock is up more than 31%.
Do not miss: Here's how Apple's stock works around iPhone launch events
WellCare Health Plans Inc.'S stock
WCG -2.77%
fell 2.1%. The managed-care provider will join the S & P 500, replacing XL Group Ltd.
XL, + 0.00%
which is being acquired AXA SA
CS, + 0.32%
AXA + 0.37%
The Federal Communications Commission paused its 180-day clock for reviewing the merger of T-Mobile US. Inc.
TMUS, + 0.74%
and Sprint Corp.
S + 0.90%
Shares of T-Mobile Pink 0.5% while Sprint was up 1%.
Micron Technology Inc.
MU, -6.12%
fell 4.4% after Goldman Sachs downgraded the stock to neutral.
Vital Therapies Inc.
VTL -89.29%
plummeted nearly 90% after it said it is a problem of a system of treatment after a disappointing trial.
Nielsen Holdings PLC
NLSN, + 3.26%
jumped 4% after the TV-ratings company said it expanded its previously announced strategic review to assess the potential of the company.
Snap Inc.
SNAP -9.35%
fell 9.4% after Jefferies analyst Brent Thill lowered his price to $ 11. Separately, BTIG downgraded the stock to sell.
Wabco Holdings Inc.
WBC, -5.44%
said it expects its 2018 earnings to be in the lower half of a previously given outlook range, quoting trade tensions. The stock fell 5.9%.
Bausch Health Cos. Inc..
BHC + 15.47%
gained 14% after it reached an agreement in a patent dispute over a treatment for irritable bowel syndrome.
Macy's Inc.
M + 0.55%
plans to hire about 80,000 seasonal workers for the season, matching the overall hiring plans announced last year. Shares rose 1.9%.
Foamix Pharmaceuticals Ltd.
FOMX, + 9.49%
shares jumped 13%. The company reported positive late-stage trial results for its topical acne medication
What Fed officials are scheduled to speak?
St. Louis Fed Chairman James Bullard said that Federal Reserve interest rate-setters are not paying enough attention to what the markets tell.
Fed Gov. Lael Brainard is expected to make remarks in Detroit at 12:45 pm Eastern. The central bank is slated to release its book at 2 p.m. Eastern.
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