U.S. stocks mixed amid earnings, data

Source: Xinhua| 2018-05-26 05:29:11|Editor: huaxia
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NEW YORK, May 25 (Xinhua) -- U.S. stocks closed mixed on Friday as investors digested a string of corporate earnings reports and economic data.

The Dow Jones Industrial Average was down 58.67 points, or 0.24 percent, to 24,753.09. The S&P 500 decreased 6.43 points, or 0.24 percent, to 2,721.33. The Nasdaq Composite Index climbed 9.42 points, or 0.13 percent, to 7,433.85.

On corporate earnings, U.S. athletic shoe retailer Foot Locker reported adjusted first-quarter earnings per share of 1.45 U.S. dollars on Friday, beating industry expectations of 1.25 dollars per share. Its revenue was also ahead of estimates.

The company's stock surged 20.16 percent at market closing after its encouraging earnings report.

Shares of Nebraska-based Buckle Inc. rose over 1 percent in early trading after the company delivered profit earnings of 38 cents per share. However, its shares retreated soon and lost about 2 percent in late trading.

Meanwhile, shares of Hibbett Sports Inc. slid more than 15 percent after the company's first-quarter earnings fell short of estimates on Friday.

Analysts noted that sectors of the Dow and the S&P 500 have been under pressure this week as a decline in oil prices weigh on industry giants like Exxon Mobil and Chevron, while lower interest rates drag on bank stocks.

Oil prices fell on Friday as the West Texas Intermediate (WTI) for July delivery decreased 2.83 U.S. dollars to settle at 67.88 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery was down 2.35 dollars to close at 76.44 dollars a barrel on the London ICE Futures Exchange.

On the U.S. economic front, the overall orders for durable goods dropped 1.7 percent in April, as demand for transportation equipment tumbled 6.1 percent. However, new orders for key U.S.-made capital goods increased more than expected in April, the Commerce Department said on Friday. Enditem