US STOCKS-Wall St flat as investors assess earnings reports

jueves 21 de abril de 2016 11:32 GYT
 

* Travelers biggest drag on Dow after results

* Jobless claims unexpectedly fall last week

* Dow down 0.11 pct, S&P down 0.05 pct, Nasdaq up 0.26 pct (Adds details, changes comment, updates prices)

By Abhiram Nandakumar

April 21 (Reuters) - Wall Street was flat on Thursday after a raft of mixed quarterly earnings and a slide in oil prices kept investors on the sidelines.

Crude fell nearly 2 percent, but hovered near five-month highs after the International Energy Agency said 2016 would see the biggest fall in non-OPEC production in 25 years.

A recent recovery in oil and encouraging corporate results have helped push the S&P 500 to within striking distance of its peak of 2,134.72.

However, expectations for first-quarter earnings are dismally low, with S&P 500 companies expected to post a 7.2 percent fall in profit on average, and a 1.4 percent decline in revenue, according to Thomson Reuters I/B/E/S.

"The market has a singular focus to retake the old highs set back in May last year," said Sam Stovall, U.S. equity strategist at S&P Global Market Intelligence in New York.   Continuación...