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US stocks little changed, oil shares gain

Petroleum-linked equities rose with oil prices early Wednesday as US stocks were little changed following mixed earnings reports.

Dow member Chevron rose 1.1 percent and Schlumberger was up 1.4 percent as oil prices advanced.

Investors were looking ahead to the third and final US presidential debate Wednesday night and to a policy announcement Thursday from the European Central Bank.

Overall, stocks were little changed. About 40 minutes into trading, the Dow Jones Industrial Average was at 18,194.71, up 0.2 percent.

The broad-based S&P 500 added 0.1 percent at 2,140.78, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 5,240.32.

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Morgan Stanley gained 1.1 percent as it reported a 61.7 percent jump in third-quarter earnings to $1.5 billion due to strong gains in its trading division.

Intel slumped 5.4 percent as it projected fourth-quarter sales of $15.7 billion, below the $15.9 billion expected by analysts.

Oil-services giant Halliburton jumped 3.2 percent as it offered a positive outlook for 2017 thanks to strengthening oil prices.

Yahoo jumped 2.5 percent after reporting that third-quarter profits more than doubled to $163 million.

Starbucks jumped 1.8 percent as it announced plans to double its stores in China to 5,000 from the current 2,300 by 2021.