US STOCKS-Wall St dips in choppy trading after two-day losses

jueves 29 de enero de 2015 13:03 GYT

* Jobless claims at lowest in almost 15 years

* Alibaba shares tumble after results, Yahoo follows

* Dow up 0.4 pct, S&P flat, Nasdaq down 0.2 pct (Updates to midday)

By Rodrigo Campos

NEW YORK, Jan 29 (Reuters) - U.S. stocks edged lower in choppy trading on Thursday as earnings, including Alibaba's, and a further drop in U.S. crude futures dragged shares lower, while a strong reading in the job market gave equities some support.

Alibaba Group shares dropped 9.2 percent to $89.37 after the company's revenue missed Wall Street expectations. The decline took shares of Yahoo, which said earlier this week it will spin off its Alibaba stake, down 5.9 percent to $43.72.

"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.

Supporting stocks, data showed weekly applications for unemployment insurance fell to their lowest in almost 15 years, adding to bullish signals on the labor market.   Continuación...