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Wall Street opens flat, IBM weighs on Dow index

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Reuters NEW YORK

NEW YORK (Reuters) - U.S. stocks opened little changed on Wednesday as corporate earnings provided investors with little reason to buy in a stock market that has been unable to find its footing after a strong rally last year.

Shares of IBM weighed down the Dow after the world's biggest technology services company missed revenue expectations for a fourth straight quarter amid weakening demand, particularly in growth markets like China.

The Dow Jones industrial average fell 21.7 points or 0.13 percent, to 16,392.74, the S&P 500 gained 1.57 points or 0.09 percent, to 1,845.37 and the Nasdaq Composite added 8.714 points or 0.21 percent, to 4,234.474.

 

(Reporting by Angela Moon; Editing by Bernadette Baum)

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First Published: Jan 22 2014 | 8:25 PM IST

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