(MENAFN– ecpulse)
U.S. stocks were little changed at Friday’s close, ending the week roughly flat, as investors weighed in earnings reports ahead of a busy economic calendar next week.
Trading volume was muted, as investors combed through earnings reports and looked ahead to the coming week`s economic news. A statement by the Federal Reserve`s policy-setting committee and a reading on second-quarter U.S. gross domestic product are slated for release Wednesday, followed by the Labor Department`s closely watched monthly jobs report Friday morning.
Expedia tumbled after the online-travel agent reported earnings and revenue that trailed analysts` forecasts, hurt by sharp increases in sales and marketing costs. Zynga after forecasting a bigger-than-expected third-quarter loss and saying it would give up on its real-money gaming efforts in the U.S.
Amazon.com shares wavered after the Internet retailer reported a surprise second-quarter loss, as growing expenses offset revenue that rose in line with analyst forecasts.
Starbucks gained after the coffee giant beat earnings estimates and provided an upbeat full-year outlook.
Analysts expect companies in the S&P 500 have reported a 1.8% increase in second-quarter earnings from a year earlier, according to FactSet.
The Standard & Poor’s 500 Index gained 1.37 or 0.08% to close at 1691.62 levels. The index reached the highest point at 1691.62 and the lowest point at 1676.03.91. By closing, 231 shares gained while 262 shares declined and 7 shares remained unchanged.
The Dow Jones Industrial Average index gained 3.22 points or 0.02% to close at 15558.83 levels, the index reached the highest point at 15560.97and the lowest point at 15405.16. By closing, 13 shares increased while 17 shares declined.
The NASDAQ Composite Index dropped 7.98 points or 0.22% to close at 3613.16 levels, the index reached the highest point at 3613.33 and the lowest point at 3581.26. By closing, 796 shares advanced while 1424 shares declined and 222 shares remained unchanged.
The Dollar Index , which tracks the performance of the U.S. dollar against a basket of other major currencies dropped to 81.77, from an opening at 81.87, after hitting a high of 81.91, and a low of 8.64.
Gold closed at $1332.87, around its open at $1332.51, after hitting a high of $1340.36, and a low of $1312.36. Crude oil futures for September delivery dropped to $104.68, from an opening at $105.54, after having hit a high of $105.62 and a low of $103.90.
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