Stocks seesawed around unchanged to end flat Wednesday with most stocks weaker amid mixed earnings news and rising bond yields. The Dow Jones industrial average eased 0.1 percent, the S&P 500 was flat, and the Nasdaq firmed 0.1 percent. Oil prices declined and the dollar rose.

Gains over the last two days on rebound action after last week's losses effectively limited the upside Wednesday. Investors remained cautious ahead of major earnings news from Meta, Alphabet, and other megacap favorites.

In company news, Texas Instruments posted upbeat results to lift chipmakers, excluding Nvidia. Tesla rallied after its results were not as bad as the market feared and founder Elon Musk pledged to bring more affordable cars to market. Mattel and Hasbro earnings lifted toymakers, and Hilton led hotels.

On the downside, disappointing results hit Old Dominion Freight Line and Norfolk Southern, Steel Dynamics, and General Dynamics, among others.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.