U.S. Stocks Mixed Amid Earnings

Major U.S. indices were mixed on Thursday, following a sharp rally in the previous session, as traders evaluated a deluge of corporate earnings with mixed results, as well as readings on the US economy. In economic news, initial jobless claims surged 53,000 to 253,000 in the week ended Jan. 26 against consensus for 220,000 and the 200,000 revised reading from the prior week.

The Q4 employment cost index rose 0.7%, just shy of the 0.8% expected, after an 0.8% Q3 increase and Q2’s 0.6%. Wages and salaries rose 0.6% versus the prior 0.9% jump. The Chicago Purchasing Managers’ Index dropped 7.1 points to 56.7 in January after edging up 0.3 points to 63.8 revised reading for December.

New home sales jumped 16.9% to 657,000 annualized rate for November. In Europe, equities also struggled for a direction after official data showed the eurozone economy grew at the weakest pace in four years in 2018, while the region also faced growing political tensions.