Stocks Opened Little Changed as Markets Digested Earnings

U.S. stocks opened flat on Friday, as investors digested a slew of earnings. The Dow Jones Industrial Average lately fell 0.13 point, to 18,517.10. The S&P 500 gained 0.20 point, or 0.01%, to 2,165.37. The Nasdaq Composite advanced 0.20 point, to 5,074.10.

American Airlines Group Inc (AAL.O) reported a better-than-expected quarterly profit as the world’s largest airline benefited from cheaper fuel as the world’s largest airline benefited from cheaper fuel. American’s total operating costs fell 3.3 percent to $8.61 billion in the second quarter, with fuel costs declining 20 percent. Net income plunged 44 percent to $950 million as provisions for income tax surged to $543 million from $15 million.

General Electric Co on Friday reported a sharp rise in adjusted net income in the second quarter. Revenue rose 15 percent to $33.49 billion, helped by a 31 percent rise in the power business. Net profit was $2.73 billion, or 30 cents a share, compared with a loss of $1.36 billion, or 13 cents a share, in the year-earlier quarter.

Crude futures were on track for weekly losses on Friday. Brent crude briefly fell to a more than two-month low of less than $46 per barrel before rebounding to $46.35 as of 1210 GMT, 15 cents higher. U.S. West Texas Intermediate traded as low as $44.25 a barrel before bouncing back to $44.78.

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