USA stocks close lower amid earnings, data

Wall Street

The S&P 500 was down 4.31 points, or 0.17 percent, to 2,550.93.

USA stocks closed lower on Thursday as investors digested third quarter earnings reports as well as latest economic data.

Citigroup also reported better-than-expected earnings.

The Dow Jones industrial average added 42.21 points, or 0.2%, to 22,872.89. Six of the 11 major S&P indexes were lower, led by a 0.6 percent drop in telecom services index. The stock traded 0.2 percent higher as of 9:12 a.m.in NY.

On the economic front, the Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August. Retail sales, meanwhile, gained 1.6 percent, while analysts polled by Reuters expected a gain of 1.7 percent.

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It improved, as 15 investors sold TBI shares while 43 reduced holdings. 59 funds opened positions while 108 raised stakes. The oil and gas producer reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01.

The reports from the Wall Street banks kicked off the third-quarter earnings season, with investors hoping profit growth will help justify valuations after a rally that has sent the S&P 500 up about 14 percent so far this year.

The Nasdaq is up 1.33 points, or less than 0.1%, although t he Russell 2000 is down 5.05 points, or 0.3%. The Russell 2000 index of smaller-company stocks edged down 1.08 points, or 0.1%, to 1,506.92.

The Dow is up 3,078.41 points, or 15.6 percent. The Dow Jones Industrial Average rose 0.1% to 22,871.72, just shy of an all-time high, and ended 0.4% on the week, making it the fifth rise in a row.

Treasury yields fell on the news, with the benchmark 10-year yield trading at 2.28 percent.

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