Snap, Pinterest Lead Social Media Stocks Higher as Stock Markets Tread Water

The stock market didn't do much on Wednesday morning, giving up early gains to trade near the unchanged mark. Investors have no confidence that lawmakers in Washington will figure out a way to work with the White House toward reaching a compromise on an economic stimulus package in the near future, and that uncertainty has some market participants on edge. In particular, social media stocks performed quite well, as the latest earnings results from Snapchat parent company Snap (NYSE: SNAP) suggested that some aspects of the business are starting to improve.