US stocks are mixed in early trading
NEW YORK (AP) — U.S. stocks are opening mixed as investors look over more earnings reports from big companies.
Broad market indicators were mostly lower. The Standard & Poor’s 500 index fell two points, or 0.1 percent, to 1,980 as of 9:35 a.m. Thursday.
The Dow Jones industrial average, which consists of just 30 blue-chip stocks, was higher almost entirely because of a big gain in Visa. Late Wednesday the payments processing company announced earnings that beat analysts’ expectations. The company also announced a big share buyback program.
The Dow rose 80 points, or 0.5 percent, to 17,055. The Nasdaq composite fell four points, or 0.1 percent, to 4,545.
Energy and industrial stocks fell the most in the S&P 500.
Auto parts maker BorgWarner dropped 4 percent after reporting results that missed analysts’ expectations.