Dow futures fall almost 200 pts as bond yields, heath stocks weigh

Stock indexes ended slightly higher on Wall Street after overcoming a brief stumble in the afternoon. The next few days will prove particularly busy as investors will look ahead to President Donald Trump's State of the Union address and the Federal Reserve's two-day meeting.

"Investors are getting a bit anxious about inflation which has led some people to believe that the Fed might be more aggressive when it comes to raising rates", said Robert Pavlik, chief investment strategist at SlateStone Wealth.

Losses in health care stocks were offset by gains in technology companies and other sectors.

The technology sector's 0.62-percent drop weighed the most on the markets as all three major USA indexes retreated from highs and their strongest 4-week run since 2016.

AT&T was down 0.9, Verizon slipped 0.7 and Sprint pulled back by 1.3 percent.

The Dow Jones Industrial Average lost 362.59 points, or 1.37 percent, to 26,076.89.

More news: Government shutdown: SpaceX can't test fire Falcon Heavy rocket

At 12:44 p.m. Eastern Time, the S&P 500 index was down 29 points, to 2,825.

Stocks moved higher in midday trading after several big USA companies reported strong quarterly results.

Dr Pepper Snapple Group jumped to an all-time high, up as much as 32.4 percent, after K-cup maker Keurig Green Mountain said it will buy the company in a deal worth more than $21 billion.

Elsewhere, the Stoxx Europe 600 swung between small gains and losses and was recently down 0.1% following its biggest daily fall of the year.

Electronic Arts jumped 10.4 pct to record high after it gave a upbeat forecast, which also sent shares of fellow videogame makers Activision Blizzard and Take-Two to all-time highs.

United States stocks pulled back sharply from record levels last week, with the Dow falling more than 100 points, weighed down by Apple after a media report added to concerns about demand for the iPhone X.

More news: Mark Hollis resigns as Michigan State athletic director

Declining issues outnumbered advancing ones on the NYSE by a 4.65-to-1 ratio; on Nasdaq, a 2.16-to-1 ratio favored decliners.

The Russell 2000 is down 33.08 points, or 2.1 percent.

USA stocks rebounded Wednesday following their worst two-day stretch in months, lifted by the latest round of corporate earnings.

Earlier, Hong Kong's Hang Seng rose 0.9% as gains accelerated near the end of trading, finishing the month up 9.9% - its best month since April 2015.

Xerox rose 10.5 percent after reporting a strong quarter of its own.

The Dow is up 1,430.17 points, 5.8 percent.

More news: Rare lunar trifecta may be partially visible in WNY

The S&P 500 was down 27.82 points, or 0.97 per cent, at 2,825.71 and the Nasdaq Composite was down 60.17 points, or 0.81 per cent, at 7,406.33.