Earnings reports from several blue-chip companies presented a mixed picture.
International Business Machines fell 4.1% after third-quarter revenue fell short of expectations. But Bank of America was the biggest gainer among the blue chips, rising 10.1% after the reporting positive earnings due to accounting gains and the sale of a stake in a Chinese bank. Also, Goldman Sachs Group gained 5.5%, even after the investment bank registered just its second quarterly loss since becoming a public company in 1999.
On the economic front, U.S. wholesale prices rose, pointing to inflation pressures. Meanwhile, Fed policymakers remain cautious about the economy's prospects, according to minutes of meetings on the central bank's discount rate.