Wall Street stocks have dipped from record highs in opening trade on Wednesday following mixed earnings reports.

Five minutes into trade, the Dow Jones Industrial Average was at 18,197.37, down 11.82 points (0.06 per cent).

The broad-based S&P 500 dipped 1.71 (0.08 per cent) to 2,113.77, while the tech-rich Nasdaq Composite Index lost 8.25 (.017 per cent) at 4,959.88.

Home-improvement retailer Lowe’s gained 0.2 per cent after reporting a 47 per cent jump in fourth-quarter earnings following a 7.3 per cent rise in comparable sales.

But technology giant Hewlett-Packard sank 9.1 per cent as first-quarter earnings dropped 4.1 per cent. The company warned the impact of the strong US dollar on earnings this year will be “significantly greater than we expected in November.”

Traders are eyeing a second day of congressional testimony by Federal Reserve Chair Janet Yellen. Yellen’s remarks on Tuesday were seen as dovish on monetary policy, helping to push US stocks to record closes.