Stocks Opened Mixed, Earnings and Trade Talks in Focus

Stocks opened slightly lower on Thursday as investors refocused on corporate earnings results and U.S.-China trade negotiations. The Dow Jones Industrial Average lately fell 23.16 points, or 0.09%, to 26,406.98. The S&P 500 edged up 1.57 points, or 0.05%, to 2,925.30. The Nasdaq Composite climbed 16.19 points, or 0.20%, to 8,065.83.

U.S. oil prices fell in Thursday, as energy markets await potential next moves from OPEC as Trump-led sanctions against Iran officially kick in and as a jump in domestic supplies continues to keep prices in check. West Texas Intermediate crude for June delivery was down 72 cents, or 1.1%, at $62.88 a barrel. July Brent crude fell 64 cents, or 0.9%, to $71.54 a barrel.

The number of people who applied for jobless benefits at the end of April stood at a three-month high of 230,000 for the second week in a row. The number of people already collecting unemployment benefits, known as continuing claims, edged up 17,000 to 1.67 million, the government said Thursday.

The productivity of American workers soared in the first quarter and pushed the increase over the past year to the highest level since 2010, a potentially great sign for the U.S. economy. The productivity of American workers increased at a 3.6% annual pace from January through March, the government said Thursday.

Under Armour (UAA) posted better-than-expected earnings during the first quarter. Under Armour reported adjusted earnings of 5 cents per share. Revenue during the quarter totaled $1.2 billion, which was above consensus estimates for $1.18 billion.