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Last updated: October 09. 2013 10:36AM - 153 Views
Associated Press



FILE - In this Monday, Oct. 7, 2013, file photo, trader Gregory Rowe, left, and specialist Anthony Rinaldi work on the floor of the New York Stock Exchange. Stock futures are higher, Wednesday, Oct. 9, 2013, with President Barack Obama set to nominate Janet Yellen to head the Federal Reserve. (AP Photo/Richard Drew, File)
FILE - In this Monday, Oct. 7, 2013, file photo, trader Gregory Rowe, left, and specialist Anthony Rinaldi work on the floor of the New York Stock Exchange. Stock futures are higher, Wednesday, Oct. 9, 2013, with President Barack Obama set to nominate Janet Yellen to head the Federal Reserve. (AP Photo/Richard Drew, File)
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(AP) Stocks are wavering between small gains and losses in early trading as US companies report mixed earnings news.


Alcoa rose as aluminum demand increased, but KFC owner Yum brands and Costco fell after reporting disappointing results.


The Dow Jones industrial average was flat at 14,775 shortly after trading began Wednesday.


The Standard & Poor's 500 index was down less than a point at 1,654 and the Nasdaq composite fell 19 points, or 0.5 percent, to 3,674.


Later Wednesday President Barack Obama is expected to nominate Janet Yellen to head the Federal Reserve. Yellen has been a key ally of Fed Chairman Ben Bernanke and has piloted the bank's massive bond-buying program.


Men's Wearhouse soared after Jos. A. Bank Clothiers said that it's bidding $2.3 billion for the company.


Associated Press
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