stocks Ended Flat after Earnings Disappointed

U.S. stocks closed fractionally higher on Thursday as subdued corporate earnings weighed on investors’ sentiment. The Dow Jones Industrial Average rose 18.15 points, or 0.10%, to 17,926.43. The S&P 500 edged up 0.36 point, or 0.02%, to 2,082.78. The Nasdaq shed 1.53 points, or 0.03%, to 4,945.89.

Troubles in the U.S. oil industry amplified profit pressures on Wells Fargo & Co (WFC.N) and Bank of America Corp (BAC.N) on Thursday as rising bad loans added to a tough climate for trading bonds and currencies, along with persistently low interest
rates.

Microsoft Corp (MSFT.O) has sued the U.S. government for the right to tell its customers when a federal agency is looking at their emails, the latest in a series of clashes over privacy between the technology industry and Washington.

The regulator of Fannie Mae and Freddie Mac said on Thursday it would allow the government-controlled mortgage finance companies to cut loan balances for thousands of U.S. borrowers who owe more than their homes are worth.

United Launch Alliance plans to cut up to 875 jobs before the end of 2017 to better compete against rivals bankrolled by billionaire entrepreneurs including Elon Musk and Jeff Bezos, ULA’s chief executive officer said on Thursday.