US stocks close mixed amid earnings, Federal decision

General Electric reported mixed quarterly earnings with revenue beating Wall Street estimates and earnings falling short of forecast.

US stocks closed mixed on Thursday as investors digested corporate earnings reports as well as the central bank`s latest rate decision, Image source: Reuters

US stocks closed mixed on Thursday as investors digested corporate earnings reports as well as the central bank`s latest rate decision.

The Dow Jones Industrial Average fell 15.19 points, or 0.06 per cent, to 24,999.67. The S&P 500 increased 23.05 points, or 0.86 per cent, to 2,704.10, Xinhua news agency reported.

The Nasdaq Composite Index increased 98.66 points, or 1.37 per cent, to 7,281.74.

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General Electric reported mixed quarterly earnings with revenue beating Wall Street estimates and earnings falling short of forecast.

It reported adjusted earnings per share of $0.17 on revenue of $33.28 billion.

The company`s shares surged 11.65 per cent to close at $10.16 apiece on Thursday.

Facebook posted earnings per share of $2.38 on revenue of $16.91 billion, topping Wall Street estimates.

The website registered daily active users of 1.52 billion on average for December 2018, an increase of 9 per cent year over year. Its monthly active users were 2.32 billion as of December 2018, also an increase of 9 per cent year over year.

On Wednesday, the Federal Reserve left benchmark interest rates unchanged and said it would be patient about rate hikes moving forward. Stocks surged after the announcement of the Fed decision.

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