US STOCKS-Wall St little changed after two-day losses, data supports

jueves 29 de enero de 2015 11:26 GYT

* Jobless claims at lowest in almost 15 years

* Alibaba shares tumble after results, Yahoo follows

* Dow up 0.2 pct, S&P off 0.1 pct, Nasdaq down 0.3 pct (Updates to morning trading, changes comment)

By Rodrigo Campos

NEW YORK, Jan 29 (Reuters) - U.S. stocks were little changed in early trading on Thursday following two days of losses on the benchmark S&P 500, supported by strong labor market data on a busy day for corporate earnings.

Alibaba Group shares dropped 9.6 percent to $88.90 after the company's revenue missed Wall Street expectations. The decline took shares of Yahoo, which said recently it will spin off its Alibaba stake, down 8.2 percent to $42.66.

"Alibaba is growing more slowly than thought, and it's a stock a lot of people want to own," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

She said "the growth story of China is called into question" by the Alibaba results.

Equity futures were earlier weighed down by earnings, but then recovered steeply after data showed weekly applications for unemployment insurance fell to their lowest in almost 15 years, adding to bullish signals on the labor market.   Continuación...