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U.S. stocks waver amid oil slid, earnings

Xinhua, April 16, 2016 Adjust font size:

U.S. stocks traded mixed on Friday, as investors assessed declines in oil prices and the newly-released quarterly corporate earnings.

By noon, the Dow Jones Industrial Average ticked down 6.95 points, or 0.04 percent, to 17,919.48. The S&P 500 lost 0.98 points, or 0.05 percent, to 2,081.80. The Nasdaq Composite Index was up 1.40 points, or 0.03 percent, to 4,947.29.

Energy traded lower as the greatest laggard in the S&P 500, as U.S. crude oil futures were off more than 3 percent in morning trade Friday.

On the economic front, U.S. industrial production decreased 0.6 percent in March for a second month in a row, according to the Fed Friday.

In corporate news, Citigroup reported Friday first quarter 2016 net income of 3.5 billion dollars, or 1.10 dollars per diluted share, on revenues of 17.6 billion dollars. Both the bank's earnings and revenue topped expectations. Shares of Citi rose 0.64 percent to 45.27 around midday trading. Endit