Stock market today: Dow rises, Nasdaq slips as fresh earnings roll in

The US global Jets ETF (JETS) rose around 3% to hit a fresh 52-week high on Wednesday. The ETF's top holdings include major carriers such as United Airlines (UAL), Delta (DAL), American Airlines (AAL), and Southwest (LUV).

The rally in airlines follows a better-than-expected earnings report from United after the bell on Tuesday. The carrier posted adjusted earnings of $3.33 per share for the third quarter, topping Wall Street's estimates for $3.07.

United also announced a program to repurchase up to $1.5 billion in shares. Its stock rose more than 9% in morning trade on Wednesday.

Amazon (AMZN) and Dominion Energy (D) said on Wednesday that they have signed an agreement to advance the development of nuclear Small Modular Reactors in Virginia.

The partnership is part of Amazon Web Services' investment of over $500 million in nuclear power, CNBC reported. Amazon is the latest big tech company to explore nuclear energy to power its artificial intelligence plans. Both Alphabet (GOOGL, GOOG) and Microsoft (MSFT) have laid out nuclear strategies.

Shares of Dominion Energy spiked more than 4% on the news.

Morgan Stanley (MS) stock jumped 4% at the open after the company reported large year-over-year increases across a variety of metrics in its third quarter earnings release.

Yahoo Finance's David Hollerith reports:

Fees from investment banking jumped 56% from a year ago, the largest leap among big banks, to nearly $1.4 billion.

The pick-up in investment banking and an increase in trading helped Morgan Stanley push its net profit up by 32% from a year earlier, to $3.2 billion.

The results cement a broad rebound across the Wall Street operations of the country's biggest banks. Investment banking fees and equity trading revenue also jumped at JPMorgan Chase (JPM), Wells Fargo (WFC), Goldman Sachs (GS), Bank of America (BAC), and Citigroup (C).

Read more here.

US stocks were muted on Wednesday as investors digested results from Morgan Stanley (MS) and others to potentially power a rebound to record highs after an ASML-fueled (ASML) slide.

The Dow Jones Industrial Average (^DJI), the benchmark S&P 500 (^GSPC), and the tech-heavy Nasdaq Composite (^IXIC) were all near flat at the open.