Major benchmarks didn't make significant moves Wednesday morning, treading water near their all-time high levels from earlier in the week. Without any new developments on key issues like economic conditions or trade negotiations, investors were left looking for subtler signals about where the stock market might go from here. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 12 points to 27,505. The S&P 500 (SNPINDEX: ^GSPC) rose 1 point to 3,075, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) was lower by 24 points to 8,411.
Many companies are looking at various strategic moves to try to improve their prospects for growth, and Xerox (NYSE: XRX) could be looking to make a big acquisition that would consolidate key players in the printer industry. Meanwhile, earnings season continued, and Wendy's (NASDAQ: WEN) weighed in with results that suggest a tasty future for the fast-food chain.
Shares of Xerox gained almost 2% Wednesday morning after reports suggested that the company famous for bringing the copier to the business world could be looking to make a major buyout. Specifically, tech peer HP (NYSE: HPQ) looks like the likely target. The Wall Street Journal said that Xerox is considering offering a combination of cash and stock in order to acquire the PC, laptop, and printer specialist.