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Stocks weighed down by earnings reports
NEW YORK, U.S. markets turned lower Thursday despite a Department of Labor report that said 11,000 fewer first-time jobless claims were filed last week.
The department said 457,000 initial benefits claims were filed in the week ending July 24.
Corporate earnings reports were mixed. Exxon said its profits surged 91 percent in the second quarter compared to the same period a year ago. Royal Dutch Shell profits rose 15 percent, while Sony Corp. said revenue rose 3.8 percent.
Several technology firms, including LSI, Akami Technologies, Nvidia, and Symantec found their shares lower after submitting disappointing quarterly results. Shares of Dow component Intel lost 2 percent.
In early afternoon trading, the Dow Jones industrial average
shed 25.43 points or 0.24 percent to 10,472.45. The Standard & Poor's 500 index fell 5.15 or 0.47 percent to 1,100.98. The Nasdaq composite index dropped 16.11 or 0.71 percent to 2,248.45.
The benchmark 10-year U.S. Treasury note fell 5/32 to yield 3.01 percent.
The euro rose to $1.3091 from Wednesday's $1.2986. Against the yen, the dollar fell to 86.866 yen from Wednesday's 87.46 yen.
In Tokyo, the Nikkei 225 index fell 0.59 percent, 57.25, to 9,696.02. component Intel slid 1.59 percent.
In London, the FTSE 100 index lost 0.11 percent, 5.73, to 5,313.95.
NEW YORK, U.S. markets turned lower Thursday despite a Department of Labor report that said 11,000 fewer first-time jobless claims were filed last week.
The department said 457,000 initial benefits claims were filed in the week ending July 24.
Corporate earnings reports were mixed. Exxon said its profits surged 91 percent in the second quarter compared to the same period a year ago. Royal Dutch Shell profits rose 15 percent, while Sony Corp. said revenue rose 3.8 percent.
Several technology firms, including LSI, Akami Technologies, Nvidia, and Symantec found their shares lower after submitting disappointing quarterly results. Shares of Dow component Intel lost 2 percent.
In early afternoon trading, the Dow Jones industrial average
shed 25.43 points or 0.24 percent to 10,472.45. The Standard & Poor's 500 index fell 5.15 or 0.47 percent to 1,100.98. The Nasdaq composite index dropped 16.11 or 0.71 percent to 2,248.45.
The benchmark 10-year U.S. Treasury note fell 5/32 to yield 3.01 percent.
The euro rose to $1.3091 from Wednesday's $1.2986. Against the yen, the dollar fell to 86.866 yen from Wednesday's 87.46 yen.
In Tokyo, the Nikkei 225 index fell 0.59 percent, 57.25, to 9,696.02. component Intel slid 1.59 percent.
In London, the FTSE 100 index lost 0.11 percent, 5.73, to 5,313.95.
