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U.S. stocks trade mixed around midday after BOJ decision

Xinhua, April 29, 2016 Adjust font size:

U.S. stocks pared early losses to trade mixed around midday Thursday, as investors assessed the Bank of Japan's (BOJ) decision to maintain its monetary policy amid U.S. economic data.

By noon, the Dow Jones Industrial Average fell 29.79 points, or 0.17 percent, to 18,011.76. The S&P 500 rose 2.42 points, or 0.12 percent, to 2,097.57. The Nasdaq Composite Index added 21.79 points, or 0.45 percent, to 4,884.93.

The BOJ on Thursday decided to keep its current monetary policy despite market expectations of additional easing, while again putting off the target date of achieving its 2 percent inflation goal.

On the U.S. economic front, the U.S. real gross domestic product (GDP) increased at an annual rate of 0.5 percent in the first quarter of 2016, worse than traders' estimates, according to the "advance" estimate released by the Commerce Department Thursday.

Meanwhile, in the week ending April 23, the advance figure for seasonally adjusted initial jobless claims was 257,000, an increase of 9,000 from the previous week's revised level, the Labor Department said Thursday.

In corporate news, shares of Facebook soared more than 9 percent around midday Thursday as the social media giant posted quarterly earnings well above expectations.

U.S. stocks closed mixed Wednesday, as Wall Street assessed the Federal Reserve's decision to leave interest rates unchanged and the weak earnings report from the tech-giant Apple. Enditem