US stocks trade mixed amid earnings, data

New York, Jan 27 (IANS) US stocks traded in a narrow range as investors digested a batch of corporate earnings reports and newly-released data.

The Dow Jones Industrial Average on Thursday rose 35.01 points, or 0.17 per cent, to 20,103.52, Xinhua news agency reported.

The S&P 500 lost 0.51 points, or 0.02 per cent, to 2,297.86. The Nasdaq Composite Index ticked down 0.48 points, or 0.01 per cent, to 5,655.86.

In corporate news, shares of Caterpillar dropped 0.55 per cent around midday Thursday, as the company reported better-than-expected quarterly earnings but revenue shy of forecasts.

Alphabet, Intel, Microsoft and Starbucks are among companies due to report quarterly earnings after Thursday’s closing bell.

The latest data from Thomson Reuters showed that the S&P 500 companies’ blended earnings in the fourth quarter of 2016 are expected to rise 6.8 per cent year on year, while the revenues are forecast to increase 4.1 per cent.

The Dow Jones Industrial Average on Wednesday closed above the psychological mark of 20,000 points for the first time ever, while the other two major indices also finished at record highs, boosted by a batch of generally positive earnings reports.

–IANS

pgh/

Top