Dow is flat as investors assess earnings reports, Fed’s next move; European stocks close higher as strong earnings boost sentiment 
The Dow Jones Industrial Average was flat Wednesday as investors digested third-quarter earnings reports and insights into when the Federal Reserve could pullback its pandemic-era easy monetary policy. 
The blue-chip average traded near the flatline after shedding more than 260 points at its intraday lows. The S&P 500 traded 0.2% higher, fluctuating between gains and losses throughout the session. The Nasdaq Composite ticked up 0.6%. 
Minutes released Wednesday afternoon from the Federal Open Market Committee’s September meeting showed the central bank could begin tapering its asset-purchase program as soon as mid-November. 
The September consumer price index released Wednesday morning jumped 0.4% in September from the month prior and 5.4% year over year, according to the Labor Department. Economists expected to see a month-to-month increase of 0.3% or annualized rate of 5.3%, according to Dow Jones. 
Third-quarter earnings season kicked off on Wednesday with JPMorgan Chase, which said that quarterly profit topped expectations following a boost from better-than-expected loan losses. Revenue for the largest U.S. bank by assets also came in higher than expected. 
JPMorgan shares fell more than 2% following the report despite the strong earnings report. The stock is up roughly 27% this year. 
Delta Air Lines also reported financial results before the opening bell on Wednesday. The company posted higher-than-expected revenue and its first quarterly profit without counting federal aid since the start of the pandemic. 
However, the airline said higher costs of fuel and other expenses will pressure its fourth-quarter bottom line. Shares of Delta shed roughly 6%. 
Apple shares dipped less than 1% after a Bloomberg News report that said it is likely to cut iPhone 13 production because of chip shortages. 

European stocks closed higher on Wednesday as strong earnings offset concerns about global growth and inflation. 
French energy company Spie climbed 8.5% after withdrawing from a race to buy utility company Engie’s services unit. 
British investment firm Man Group jumped 7.6% after a strong earnings report. 
An upbeat earnings forecast also came from German software group SAP, and French luxury goods company LVMH posted robust quarterly sales. 
Source: CNBC, Investing.com