US stocks on the move: AxoGen, Evercore, Caterpillar
SPY•U.S. stocks were choppy as megacap weakness offset chipmaker gains, with investors awaiting major technology earnings and the Federal Reserve's rate decision. AxoGen surged after raising its annual revenue outlook, Evercore climbed after beating quarterly estimates, and Caterpillar earnings were awaited.
1. Markets were mixed
U.S. stocks were choppy on Wednesday as weakness in megacap shares such as Tesla and Apple offset gains in chipmakers following SK Hynix's results. Investors awaited hyperscaler earnings and the Federal Reserve's interest-rate decision. At 1:30 p.m. EDT, the Dow was up 0.25%, the S&P 500 gained 0.15% and the Nasdaq was down 0.07%.
2. Company shares move
AxoGen surged after an upbeat annual revenue outlook, while Evercore climbed after its third-quarter results beat estimates. Caterpillar shares were in focus as investors awaited earnings, with attention on the AI buildout.
