The main US wall street indices opened in the green on Wednesday, little changed from their previous close on truce hopes with Iran.
The S&P 500 held near its all-time high at 6,978.87, up 0.16% at open, while Nasdaq Composite and Dow Jones Industrial Average opened 0.3% and 0.19% higher at 23,683.39 and 48,690.37, respectively.
However, more than half an hour into trading, Dow Jones erased gains to trade 0.3% lower at 48,389.30; while wider index S&P 500 traded 0.13% higher at 6,976.7, and the tech-heavy Nasdaq index was up 0.5% to $23,758.13.
In early trade stocks of Morgan Stanley and Bank Of America Corp rose nearly 4% after posting strong revenue beats in their financial results for the first quarter.
MS added $5.15 billion from equity trading in the first three months of the year boosting its total trading revenue by 25% to $8.51 billion. Similarly, BAC beat analysts' $29.93 billion expectations for revenue after reporting a topline of $30.43 billion.
As of 10:05 a.m. EST MS shares had jumped 4.3% to $191.07, while BAC traded 1% up at $53.97.
However, after the market opened almost all of the sectoral indices traded in the red, with only Real Estate sector and Financial sector in the green. Decline was led by Materials sector, Industrial sector, and energy sector.
Oil prices dropped slightly as of 9:46 a.m. EST, with the global benchmark Brent Crude holding near $95 a barrel, and the West Texas Intermediate down 0.16% to $91.13.
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The magnificent seven stocks traded mixed, with Tesla Inc. up 1.75% to $370.82, Meta Platforms Inc. up over 1% to $668.63, Microsoft trading 2.4% higher at $402.33, and Nvidia Corp. up nearly 1% to $198.29.
On the other hand, Apple Inc. slipped 0.2% to $258.33, Amazon.com Inc. traded 0.14% lower at $248.6, and Google-parent Alphabet Inc. down 0.23% to $332.22.
Almost all currencies remained little changed, including the US greenback. The euro was unchanged at $1.1796, the British pound held at $1.3564, and the Japanese yen fell 0.1% to 159.00 per dollar.
Bitcoin, the largest traded cryptocurrency, rose 0.2% to $74,295.49.
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