Stocks wobble on Wall Street, easing back from record highs

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks wobbled in afternoon trading on Wall Street Wednesday, a day after the S&P 500 and the Dow Jones Industrial Average set their latest record highs. Several big technology companies were posting solid gains, led by Microsoft, which reported a 24% surge in profits last quarter as its cloud computing business bounded ahead. The S&P 500 was down 0.2% after shedding an early gain and the Dow Jones Industrial Average fell 0.5%. The Nasdaq rose 0.3%. Encouraging earnings helped lift several companies, including McDonald’s. The yield on the 10-year Treasury fell to 1.53% and weighed down bank stocks. U.S. crude oil prices fell.