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Earlier market optimism faded as Wednesday wore on and a financials rally gave way to a selloff in Dow Jones Industrial Average component IBM and energy shares.
The S&P 500 hugs the flatline on Wednesday afternoon as a selloff in crude oil prices and energy shares counters better-than-expected earnings from Morgan Stanley.
ConocoPhillips will get $2.7 billion in cash with a possible contingency payment of $300 million.