Stocks Mixed as Cisco Earnings Loom Large
Wall Street rose on lower rates with a Dow gain of 25.42 as Treasuries rallied on the five year note sale. Cisco Systems slipped after reporting earnings that met expectations, keeping tech shares under pressure while the Nasdaq fell and the S&P 500 rose modestly. The intraday high for the Dow was 9,061.74, with traders wary of a rapid rally after weeks of volatility.
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Verizon and unions resume talks under mediator
Verizon and two unions the Communications Workers of America and International Brotherhood of Electrical Workers continued contract negotiations on Wednesday. About 79,000 unionized Verizon employees remain on the job as talks address cost cuts for local phone service and higher employee health care contributions. The agreement would cover Delaware Maine Maryland Massachusetts New Jersey New Hampshire New York Pennsylvania Rhode Island Vermont Virginia West Virginia and the District of Columbia. West Virginia hosts about 2,300 Verizon workers.
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