U.S. equities and stock exchange traded funds started off on the right footing Wednesday as earnings helped prop up gains, but markets still stumbled toward the end of the day.

The S&P 500 Index, along with related funds including the SPDR S&P 500 ETF (NYSEArca: SPY), iShares Core S&P 500 ETF (NYSEArca: IVV) and Vanguard 500 Index (NYSEArca: VOO), dipped 0.1% Wednesday.

Among the largest losers of the day, International Business Machines (NYSE: IBM) declined 5.0% Wednesday, falling below its 200-day simple moving average, after the behemoth revealed worst-than-expected declines in revenue for the first time in five quarters.

Additionally, the energy sector slipped as crude oil prices fell over 4% after U.S. data revealed a counter-seasonal build in gasoline inventories and a smaller-than-expected dip in overall crude stocks.

“Crude broke $52 on WTI, that is the strongest correlation we have right now away from the case-by-case earnings we have,” Art Hogan, chief market strategist at Wunderlich Securities, told Reuters. “Except for a couple of household names, (earnings) have been good. The problem with our impression of the earnings season is we just talk about the bad news.”