NEW YORK (AP) — Stocks mostly rose in early trading Thursday as several big companies across industries reported second-quarter earnings, including Facebook, Ford and equipment maker Caterpillar.
KEEPING SCORE: The Dow Jones industrial average rose five points, or 0.1 percent, to 17,091 as of 10:15 a.m. Eastern time. The Standard & Poor's 500 index rose a point, or 0.1 percent, to 1,987. The Nasdaq composite did the opposite. It fell two points, or 0.1 percent, to 4,472.
FACEBOOK SURGES: Facebook rose $3.58, or 5 percent, $75.01 after reported a profit late Wednesday that beat expectations. The world's largest social media company said late Wednesday that it earned $788 million, or 30 cents per share, in the April-June period.
THE AUTOMAKERS: General Motors fell 97 cents, or nearly 3 percent, to $36.43 after the company reported an 85 percent drop in quarterly earnings. The automaker, which is in the midst of the worst recall crisis in its history, posted a net profit of $190 million, or 11 cents per share. Meanwhile, Ford Motor Co. rose 24 cents, or 1.5 percent, to $18.01 after it said second-quarter earnings rose 6 percent to $1.3 billion. The company was helped by sales gains in Europe.
CAT FALL: Dow member Caterpillar fell $2.85, or 2.7 percent, to $105.45. The construction equipment maker said quarterly profits rose 4.1 percent, which beat expectations. However, the company's revenue fell short of forecasts.
FEWER JOBLESS CLAIMS: On the economic front, investors got a dose of good news related to jobs. The Labor Department reported weekly applications for unemployment aid dropped 19,000 to a seasonally adjusted 284,000 claims. That's the lowest reading since February 2006, nearly two years before the Great Recession began.
BONDS AND OIL: The yield on the 10-year Treasury note nudged up to 2.50 percent from 2.47 percent late Wednesday. Bond yields rise when prices fall. Benchmark U.S. crude oil fell 14 cents to $102.97 a barrel on the New York Mercantile Exchange.