Stocks flat following mixed earnings, more hiring
NEW YORK (AP) — Stocks are little changed in midday trading as investors’ enthusiasm about a surge in U.S. hiring last month was held back by mixed earnings news and a flare-up in tensions in Ukraine.
LinkedIn fell 6 percent after reporting its largest quarterly loss since going public. Estee Lauder rose 3 percent after its earnings beat analysts’ estimates.
The Standard & Poor’s 500 index rose two points, or 0.1 percent, to 1,886 as of midday (1600 GMT) Friday.
The Dow Jones industrial average was unchanged at 16,559. The Nasdaq composite rose eight points, 0.2 percent, to 4,135.
The government reported that U.S. employers added 288,000 jobs in April, the most in two years and the strongest evidence to date that the economy is picking up after a brutal winter.