U.S. stocks trade mixed amid earnings, jobless claims

U.S. stocks traded in a narrow range in the morning session on Thursday, after two days of losses, as investors digested a raft of earnings reports and weekly jobless numbers.

At midday, the Dow Jones Industrial Average was down 74.16 points, or 0.42 percent, to 17,776.88. The S&P 500 decreased 7.29 points, or 0.34 percent, to 2,106.86. The Nasdaq Composite Index edged down 2.50 points, or 0.05 percent, to 5,169.27.

In corporate news, Caterpillar announced Thursday profit per share of 1.16 U.S dollars for the second quarter of 2015, a decrease from 1.57 dollars per share in the second quarter of 2014. The company also cut its revenue forecast for the year. Shares of Caterpillar shed 3.61 percent in the early trading.

General Motors reported strong earnings growth for the second quarter with net income attribute to common stockholders of 1.1 billion dollars, but its revenue was well below forecasts, largely because of currency impact.

Amazon, Starbucks and Visa will post results after the closing bell.

On the economic front, in the week ending July 18, the advance figure for seasonally adjusted initial claims was 255,000, a decrease of 26,000 from the previously week's unrevised level, according to the U.S. Labor Department. This is the lowest level for initial claims since Nov. 24, 1973 when it was 233,000.

U.S. stocks kept falling Wednesday as disappointing quarterly results from big companies weighed on Wall Street sentiment. Endite