U.S. markets traded lower in midday trading Wednesday as investors digest some weaker-than-expected economic reports and wait for the release of the Fed minutes. The continuing saga over Greece’s debt negotiations are also weighing on sentiment. Hotel stocks are drifting lower after checking in with mixed earnings reports. Hilton (HLT) missed estimates by a penny, although revenue exceeded forecasts. The opposite for Hyatt (H), the hotel operator beat profit estimates but reported revenue fell. After the bell, Marriott (MAR) is expected to release a quarterly profit of $0.65 a share. IBM (IBM) is up in the session after Warren Buffett’s Berkshire Hathaway increased its position. The latest SEC filing also showed it sold all of its stake in Exxon Mobil (XOM). Exxon is down more than than 1.5%.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
