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US stocks are stuck in tight range in early trade as traders consider mixed corporate earnings

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NEW YORK — Stock indexes are stuck in a tight range in early trading as investors consider a mixed batch of company earnings.

Facebook slumped 7 percent Wednesday after the company warned investors that it will spend significant amounts of money next year on its work force and developing its services.

PHOTO: The Wall Street subway stop on Broadway, in New York's Financial District,  Thursday, Oct. 2, 2014. Global stock markets swung higher Wednesday, Oct. 29, 2014 cheered by a surge in U.S. stocks that were buoyed by solid earnings, while investors were also waiting for signs from the Federal Reserve on U.S. monetary policy. (AP Photo/Richard Drew)
The Wall Street subway stop on Broadway, in New York's Financial District, Thursday, Oct. 2, 2014. Global stock markets swung higher Wednesday, Oct. 29, 2014 cheered by a surge in U.S. stocks that were buoyed by solid earnings, while investors were also waiting for signs from the Federal Reserve on U.S. monetary policy. (AP Photo/Richard Drew)

Orbital Sciences plunged 14 percent after its unmanned rocket bound for the International Space Station exploded moments after liftoff late Tuesday. Videogame maker Electronic Arts rose 5 percent after its earnings came in ahead of analysts' estimates.

The Standard & Poor's 500 rose a point to 1,986 as of 9:35 a.m. Eastern.

The Dow Jones industrial average gained 27 points, or 0.2 percent, to 17,033. The Nasdaq composite fell nine points, or 0.2 percent, to 4,555.

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