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US stocks steady with earnings after jobless data

New York - US stocks were little changed after the S&P 500 climbed to a second successive record on Wednesday as investors follow earnings and economic data.

The S&P 500 added 0.1% to 2 477 as of 16:00. The Dow Jones Industrial Average lost 7 points to 21 634.

• Energy stocks up 0.8% for biggest gain in early trading.

• Oil held gains near $47 a barrel as US crude and gasoline stockpiles extended declines, easing concerns over a global supply glut.

• Materials shares down 0.8% after adding 1% on Wednesday.

• Telecom, utility and real estate shares up no more than 0.3%.

• 10-year Treasury yield down 2bps.

• Volume in S&P 500 elevated in energy, industrial and health-care stocks.

• ECB President Mario Draghi said policy makers are still waiting for inflation to catch up with the economy’s recovery, as they put off any discussion on winding back stimulus until after the summer.

Politics:

Geopolitical worries persist after economic talks between President Donald Trump and his Chinese counterpart Xi Jinping broke up with the two countries unable to publish a joint statement.

Economy:

• US weekly jobless claims fell 15k to 233k; est. 245k

Prior week claims revised up to 248k from 247k

Earnings:

• After-market on Thursday: Intuitive Surgical, Skyworks Solutions, E*TRADE Financial, Visa, People’s United Financial, Cintas, Capital One Financial, Microsoft, eBay.

Pre - market Friday: Honeywell International, Regions Financial, Synchrony Financial, Huntington Bancshares, Moody’s, General Electric, Kansas City Southern, SunTrust Banks, Fifth Third Bancorp, Colgate-Palmolive, Schlumberger, Citizens Financial Group.

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