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US stocks trade mixed amid earnings, data

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New York, Feb 14 (IANS) US stocks traded mixed on Thursday as investors digested corporate earnings reports as well as key economic data.

The Dow Jones Industrial Average erased 66.95 points, or 0.23 per cent, to 29,484.47. The S&P 500 was down 0.60 point, or 0.02 per cent, to 3,378.85, Xinhua reported.

The Nasdaq Composite Index increased 0.49 point, or 0.01 per cent, to 9,726.45.

Cisco reported quarterly results Wednesday after the closing bell. The company registered revenue of $12 billion and earnings per share of $0.77, both beating Wall Street’s estimates.

However, its shares plunged as investors were concerned about its continuing revenue declines.

PepsiCo, Alibaba and Applied Materials all reported quarterly earnings that beat expectations.

On the economic front, the number of Americans filing for unemployment benefits rose marginally in the week ending February 8.

According to the US Labor Department, the advance figure for seasonally adjusted initial claims was 205,000, an increase of 2,000 from the previous week’s revised level.

The 4-week moving average was 212,000, unchanged from the previous week’s revised average, said the department.



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