Weak earnings prospects weigh on stocks

NEW YORK (AP) — Stocks are closing little changed on Wall Street after a series of weak corporate earnings held the market back.

A subscriber slump at AT&T and a poor profit forecast at Procter & Gamble were among the disappointments investors were dealing with Wednesday. Drugmaker Eli Lilly and the biotech giant Amgen also fell after reporting results.

The Dow Jones industrial average closed down 43 points, or 0.3 percent, at 14,676. The Dow is coming off three days of gains.

The Standard and Poor’s 500 index closed up just 0.01 point at 1,578. The Nasdaq edged up a fraction of a point to 3,269.

Nearly two stocks rose for every one that fell on the New York Stock Exchange. Volume was average at 3.5 billion shares.

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