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Stocks were little changed Thursday as traders assessed the latest batch of earnings reports, with the S&P 500 looking to record its longest winning streak since December.
The Dow Jones Industrials surmounted the negatives of Thursday morning and came to within 3.35 points of breakeven to 43,218.20
The much-broader index inched higher 0.86 points to 5,950.37.
The NASDAQ Composite declined 69.25 points to 19,441.98.
Morgan Stanley climbed 3% after posting a top- and bottom-line beat in the fourth quarter on strong investment banking activity and fixed income trading revenue. Bank of America inched down 1% despite having reported an earnings and revenue beat in the prior quarter. The results come a day after other financial peers such as JPMorgan Chase and Goldman Sachs also beat fourth-quarter estimates.
The earnings season is off to a strong start overall, with 77% of the companies that have reported thus far beating expectations.
Prices for the 10-year Treasury surged, lowering yields to 4.61% from Wednesday’s 4.65%. Treasury prices and yields move in opposite directions.
Oil prices skidded $1.49 to $78.55 U.S. a barrel.
Prices for gold hiked $36.70 an ounce to $2,754.70 U.S.
