The US market traded in a mixed note amidst an encouraging data on the country's unemployment crisis, a plethora of corporate earnings and discouraging reports from Europe on the on-going debt crisis.
According to a data released by the Labor Department, applications for unemployment benefits dropped to 403,000 last week. That is still above the 375,000 number economists say signals a healthy jobs market.
The Dow Jones industrial average fell 0.03 percent or 4.01 points to trade at 11,500.61. The Nasdaq Stock Market Inc. composite index lost 0.43 percent or 11.07 points to trade at 2,592.97. The Standard & Poor's 500 index was up 0.10 percent or 1.27 points to trade at 1,211.15. Among other major indices, the New York Stock Exchange composite index gained 0.40 percent or 29 points to trade at 7,296.26. The American Stock Exchange composite index was up 0.26 percent or 5.56 points to trade at 2,158.80.
Hot Stocks of the Day: MSFT, T, NOK, F, LUV, WMT
Microsoft Corp. (Nasdaq: MSFT) is scheduled to report its FY2012 Q1 earnings later in the day. Analysts estimate a net profit of $0.68 per share for the company. Shares lost 1.22 percent or $0.33 to trade at $26.80.
AT&T, Inc. (NYSE: T) registered net income of $3.6 billion, or $0.61 per diluted share in its FY2011 Q3, compared to net income of $12.3 billion, or $2.07 per diluted share in the third quarter of 2010. Analysts had estimated a net profit of $0.61 per share for the company. Shares slipped 0.55 percent or $0.16 to trade at $28.93.
Nokia Corp. (NYSE: NOK) declared a net loss of 2 euro cents a share in its FY2011 Q3 compared to a net profit of 14 euro cents a share in the same period a year ago. Analysts forecasted a net loss of 1 euro cents per share for the company.