Wall Street today: US stocks edge lower, investors focus on earnings & economic data | Stock Market News

US stock indices moved in opposite directions on Thursday, as investors focused on corporate earnings and awaited President Donald Trump’s address to World Economic Forum (WEF) in Davos.

At 09:49 a.m. ET the Dow Jones Industrial Average rose 77.68 points, or 0.18 per cent, to 44,234.41, the S&P 500 lost 3.29 points, or 0.05 per cent, to 6,083.25, and the Nasdaq Composite lost 72.01 points, or 0.36 per cent, to 19,937.14.

At the opening bell, the Dow Jones Industrial Average fell 43.2 points, or 0.10 per cent, to 44,113.55. The S&P 500 fell 10.1 points, or 0.17 per cent, to 6,076.32​, while the Nasdaq Composite dropped 102.4 points, or 0.51 per cent, to 19,906.988.

Later Thursday, Trump was scheduled to appear via live stream at WEF Davos where banking and oil industry CEOs were to be given the chance to lob questions at the new US president.

Gainers and loser

GE Aerospace stock climbed 8.5 per cent after the company reported stronger profit for December quarter.

American Airlines stock shed 7.4 per cent despite it reported stronger quarterly profit.

Stocks of artificial intelligence-chip giant Nvidia fell 1.4 per cent and Microsoft dipped 0.6 per cent.

JPMorgan Chase and Goldman Sachs rose more than 1 per cent each.

Shares of Electronic Arts tanked 15 per cent after the video game maker said it’s seeing a slowdown in revenue.

Bonds

In the bond market, the yield on the 10-year Treasury climbed to 4.64 per cent from 4.61 per cent late on Wednesday. The 2-year Treasury yield held at 4.30 per cent.

Crude oil

Oil was steady near $79 a barrel after an industry report showed the first gain in US crude stockpiles since mid-November.

US crude inventories rose by 1 million barrels last week and fuel stockpiles surged, the American Petroleum Institute reported, according to a document seen by Bloomberg.

Bullion

Gold prices dipped on Thursday after hitting a near three-month high in the previous session.

Spot gold was down 0.4 per cent at $2,744.49 per ounce by 1246 GMT. US gold futures shed 0.7 per cent to $2,751.20. Spot silver dropped 1.5 per cent to $30.33.