Wednesday morning didn't bring big moves for the major benchmarks, as market participants seemed to focus their attention on key events expected later in the day. Between impeachment hearings, testimony from Fed Chair Jerome Powell, and ongoing tensions over U.S.-China trade, investors were content to let stocks tread water. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 22 points to 27,713. The S&P 500 (SNPINDEX: ^GSPC) rose 1 point to 3,093, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved lower by 6 points to 8,480.
General Electric (NYSE: GE) has moved sharply higher in November, but today, shares gave up a bit of ground after a key analyst weighed in on the recent stock price action. Meanwhile, Nike (NYSE: NKE) decided to end a sales experiment with Amazon.com (NASDAQ: AMZN), with implications for both companies going forward.
Shares of General Electric were down almost 2% as shareholders weighed comments from a prominent Wall Street analyst. J.P. Morgan gave a downbeat view on the conglomerate in a research note, throwing cold water on bullishness following GE's latest quarterly report.