S&P 500 ekes out another small gain; IBM slumps

By Steve Rothwell

Published January 22, 2014 9:50pm ET

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S&P 500 ekes out another small gain; IBM slumps — FILE - In this Friday, Jan. 17, 2014, file photo, traders Michael Smyth, left, and Patrick McKeon, work on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File) | Richard Drew

NEW YORK (AP) — The Standard & Poor’s 500 index eked out its second small gain of the week Wednesday as investors pored over the latest earnings reports.

Norfolk Southern climbed after the railroad company said its fourth-quarter profit rose 24 percent, better than Wall Street analysts had forecast. TE Connectivity, an electronics company, was the biggest gainer in the S&P 500 after its earnings beat analysts’ expectations and the company posted a strong earnings outlook for the second quarter.

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Financial Markets