Stocks Traded Mixed after China Data

U.S. stocks traded mixed in early morning on Wednesday, as investors considered stronger-than-expected economic data from China and a mixed batch of earnings results. The Dow Jones Industrial Average lately fell 54.02 points, or 0.20%, to 26,398.64. The S&P 500 was up 0.73 point, or 0.03%, to 2,907.79. The Nasdaq Composite climbed 24.51 points, or 0.31%, to 8,024.74.

Oil futures pushed higher for back-to-back sessions Wednesday as preliminary data showed a drop in U.S. supplies. West Texas Intermediate crude for May delivery rose 42 cents, or 0.7%, to $64.48 a barrel. June Brent crude added 53 cents, or 0.7% to $72.25 a barrel.

China’s gross domestic product rose 6.4% year-on-year in the first quarter of 2019, aided by an 8.5% year-on-year jump in March’s industrial production data.

The U.S. trade deficit unexpectedly narrowed to $49.4 billion in February from a revised $51.1 billion in January, according the Census Bureau’s report released Wednesday.

PepsiCo (PEP) reported upbeat first-quarter earnings.It earned 97 cents a share on revenue of $12.88 billion. For the full year, Pepsi reiterated guidance, saying that it expects full-year organic revenue growth of 4%.

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