US stocks mixed after strong GDP figures
US stocks finished mixed on Thursday as traders contended with corporate earnings and economic data that came in far stronger than expected. The world's biggest economy surprised analysts by growing at an annualised rate of 2.8 percent in the second quarter of the year – double the level seen between January and March, and well above economists' estimates. The Dow Jones closed up 0.2 percent at 39,935, while the S&P 500 fell 0.5 percent to close at 5,399. The Nasdaq also finished the day in the red, declining by 0.9 percent to 17,181. "We had a strong economic report, so that helped boost investors' enthusiasm," Cresset Capital's Jack Ablin said. "But we also had some a mixed picture on the micro front." "We had some disappointments out of Ford, American Airlines, so I think that it's creating perhaps a little tension in the market today," he added. Among individual stocks, US auto giant Ford fell by 18.4 percent after missing earnings expectations, leading a sell-off in the sector that left General Motors and Stellantis down 5.1 percent and 7.7 percent, respectively. There was some cause for optimism as well on Thursday, with health care services provider Molina and digital workflow firm ServiceNow both finishing the day up, by 12.3 percent and 13.4 percent, respectively. Investors' attention is also firmly fixed on Friday's inflation data, which is sure to be closely scrutinised ahead of next week's Federal Reserve interest rate decision. (AFP)