Indices closed in the red zone Wednesday. Stocks traded lower in the wake of less-than-stellar earnings details from IBM and Intel, which were released late yesterday. Meanwhile, crude oil futures shed $1.53 to settle at $102.76 a barrel. On another note, American Express and eBay reported better-than-expected quarterly data after the closing bell. Qualcomm’s results also exceeded expectations, however, the company’s outlook for the third quarter fell shy of forecasts.
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