The first big batch of US profit reports for the summer has Wall Street mixed

The first major batch of summertime profit reports from United States companies has produced mixed reactions on Wall Street, leaving stock indexes relatively static near record levels. Although the corporate earnings generally topped analysts' expectations, the varying results largely canceled each other out in the market.

The resulting market stagnation in New York has also influenced international financial outlooks, with the Australian Securities Exchange (ASX) poised to slide in response to the downward movement on Wall Street.