(CNBC) -- The Dow Jones Industrial Average rose on Wednesday on the back of strong quarterly earnings from companies like IBM, United Technologies and Procter & Gamble.
The 30-stock index rose 40 points. However, it had gained nearly 300 points earlier in the day. The S&P 500 and Nasdaq Composite, meanwhile, traded lower amid declines in financials and technology shares.
Dow members United Technologies and Procter & Gamble both rose more than 4 percent after reporting better-than-expected earnings. IBM, another Dow component, jumped 7.9 percent.
Advertisement - story continues below