Wall Street Drifts as SpaceX Climbs and Netflix Falls

The U.S. stock market is drifting Wednesday as strong profit reports from Capital One Financial, SpaceX and other big companies work against updates from Netflix and AT&T that investors found disappointing.

The S&P 500 was virtually unchanged, coming off two straight modest gains. The Dow Jones Industrial Average was down 30 points, or 0.1 percent, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 0.4 percent higher.

SpaceX helped lead the market and climbed 11.1 percent after reporting a stronger profit for the summer than analysts expected. Elon Musk, who runs the company that makes money from artificial-intelligence technology, rockets and other businesses, also said that SpaceX took a step to consider a possible merger with Tesla, his electric-vehicle company.

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