Specialist John Parisi, right, works at his post on the floor of the New York Stock Exchange Tuesday, April 30, 2013. Stock prices are opening mostly lower on Wall Street as weak earnings from Pfizer and other companies drag down major market averages. (AP Photo/Richard Drew)
NEW YORK — Stocks are drifting mostly higher on Wall Street, but poor results from Pfizer are holding down the Dow Jones industrial average.
The Dow was down three points to 14,814 at midday today, a decline of 0.02 percent.
Pfizer fell the most in the Dow after reporting weaker earnings than analysts were expecting. The stock fell 90 cents, or 3 percent, to $29.54.
The Standard & Poor’s 500 edged index up two points to 1,595, an increase of 0.1 percent. That’s slightly above the record high close the S&P reached the day before.
The Nasdaq composite rose 13 points, or 0.4 percent, to 3,319.
Avon Products’ loss wasn’t as deep as analysts had expected. The stock rose 68 cents to $22.92, a gain of 3 percent.