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Choppy trading on Wall Street

Tuesday, January 19, 2016 - 01:20

Stocks zigzagged on Tuesday, ending mostly flat, after falling oil prices weighed on the markets, despite an ''in line'' GDP report from China. Bobbi Rebell reports.

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U.S. markets opened the week with a barrage of news that kept the major indexes seesawing. Early news on China's GDP lifted markets, but falling crude prices weighed on stocks. In the end the Dow and S&P 500 closed barely higher, the Nasdaq edging lower. RegentAtlantic's Chris Cordaro: SOUNDBITE: CHRIS CORDARO, CIO, REGENTATLANTIC (ENGLISH) SAYING: "Stocks remain skittish or just had a really difficult start to the year, and confidence is eroding in the markets. So I think we're gonna continue this volatility for a little while." After the bell, Netflix earnings coming in better than forecasts. Revenue rose more than 22 percent as it added more international subscribers. Shake Shack shares sizzled. William Blair upgraded the stock to "outperform" from "market perform" based on what it called the burger chain's "palatable" valuation. Bank of America's quarterly profit rose to its highest level in nearly a decade. But investors turned tails when the bank expressed concerns about weak oil prices. Cost cutting helped Morgan Stanley swing to a profit from a loss. Its shares rose. Tiffany's shares fell to a near three-year low. The upscale jeweler's sales fell in the holiday season. Twitter's shares fell sharply even though it said it has resolved the sporadic outages that had plagued the microblogging site early Tuesday morning. In Europe, hopes of more stimulus measures from China powered shares higher with energy stocks leading the way.

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Choppy trading on Wall Street

Tuesday, January 19, 2016 - 01:20