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U.S. stocks trade mixed amid earnings

Xinhua, July 22, 2016 Adjust font size:

U.S. stocks traded in a range in the morning session on Friday, a day after the Dow Jones Industrial Average snapped a nine-day winning streak, as investors continued to digest quarterly corporate earnings.

By noon, the Dow Jones Industrial Average ticked down 3.15 points, or 0.02 percent, to 18,514.08. The S&P 500 rose 2.94 points, or 0.14 percent, to 2,168.11. The Nasdaq Composite Index gained 12.70 points, or 0.25 percent, to 5,086.60.

General Electric Company reported Friday second-quarter continuing operations earnings per share of 36 cents, with Industrial+ Verticals operating earnings per share of 51 cents. Shares of the industrial conglomerate dropped more than two percent in early trading.

Starbucks' shares inched up 0.61 percent around midday Friday despite the world's famous coffee chain reported worse-than-expected quarterly results.

The latest data from Thomson Reuters showed that the S&P 500 companies' blended earnings in the second quarter of 2016 are expected to decrease 3.8 percent year on year, while the revenues are forecast to decline 0.6 percent.

Meanwhile, investors awaited the U.S. Federal Reserve's meeting next week. The Fed policymakers are expected to decide when they will raise interest rates next. Enditem