US close: Markets close lower amid slew of earnings

Stocks in the US finished Thursday lower, with the Dow breaking its nine-day winning streak, as oil prices fell and the market looked towards the Federal Reserve meeting next week.

The Dow Jones Industrial Average lost 0.42% to 18,517.23, the S&P 500 fell 0.36% to 2,165.17, and the Nasdaq slipped 0.31% to 5,073.90.

On the Dow, Goldman Sachs led the index lower while McDonald’s was the biggest winner of the day.

The Federal Open Market Committee meets next week, with recent Fed funds futures showing a slight increase in the expectation for a rate hike among investors, according to CME FedWatch.

“We always like to say the market needs to digest its gains, and we've been due for a bit of a pullback,” said Prudential Financial market strategist Quincy Krosby.

“I think the market is on hold waiting to see what that Fed statement is going to say.”

Data from the Labor Department showed initial claims for state unemployment benefits fell by 1,000 to a seasonally-adjusted 230,000, well below economist expectations for a 265,000 figure.

Oil settled down, with West Texas Intermediate lat own 2.46% at $44.65 per barrel and Brent crude losing 2.12% at $46.19.

A number of second-quarter corporate results came in on Thursday, presenting investors with a mixed bag.

Intel, Sherwin-Williams and Southwest Airlines disappointed, with Intel shares falling 4% after missing expectations.

Fellow US chipmaker Qualcomm beat expectations and saw its shares rise almost 7%.

The Dow transports lost 1.3% on their worst day since 27 June, with Southwest Airlines leading the sector lower after posting record quarterly profits that still missed market estimates.

Shares in the budget-friendly airline lost 11.2% on their worst day since 2009.

Online retail marketplace Ebay posted earnings at one-cent-per-share above estimates, sending its stock 10% higher for a period.

General Motors managed record second-quarter profits, sending the stock 3% higher and well on its way for a 12th consecutive positive day ever.

Biogen also posted positive results, lifting both the S&P and the Nasdaq.

S&P 500 - Risers
eBay Inc. (EBAY) $29.93 +10.89%
United Rentals Inc. (URI) $76.25 +9.15%
Humana Inc. (HUM) $171.53 +8.28%
Biogen Inc (BIIB) $282.45 +7.64%
QUALCOMM Inc. (QCOM) $59.93 +7.36%
Alliance Data Systems Corp. (ADS) $228.85 +6.43%
CIGNA Corp. (CI) $140.32 +5.42%
PulteGroup Inc. (PHM) $21.51 +5.34%
Chesapeake Energy Corp. (CHK) $4.97 +4.85%
Freeport-McMoRan Inc (FCX) $12.87 +4.63%

S&P 500 - Fallers
Southwest Airlines Co. (LUV) $37.32 -11.21%
Sherwin-Williams Co. (SHW) $290.63 -6.88%
Interpublic Group of Companies Inc. (IPG) $22.81 -5.86%
Murphy Oil Corp. (MUR) $29.11 -4.90%
Delta Airlines Inc. (DAL) $38.52 -4.20%
Intel Corp. (INTC) $34.27 -3.98%
Tractor Supply Company (TSCO) $89.74 -3.64%
Bank Of New York Mellon Corp. (BK) $38.60 -3.52%
Perrigo Company plc (PRGO) $91.52 -3.51%
Snap On Inc. (SNA) $156.04 -3.45%

Dow Jones I.A - Risers
McDonald's Corp. (MCD) $127.18 +0.89%
Caterpillar Inc. (CAT) $80.01 +0.40%
E.I. du Pont de Nemours and Co. (DD) $67.85 +0.25%
Pfizer Inc. (PFE) $36.71 +0.08%
Johnson & Johnson (JNJ) $125.15 +0.01%

Dow Jones I.A - Fallers
Intel Corp. (INTC) $34.27 -3.98%
American Express Co. (AXP) $63.43 -1.63%
Nike Inc. (NKE) $56.99 -1.33%
Goldman Sachs Group Inc. (GS) $160.05 -1.06%
Home Depot Inc. (HD) $136.07 -0.98%
Boeing Co. (BA) $133.53 -0.88%
Visa Inc. (V) $78.79 -0.72%
3M Co. (MMM) $180.26 -0.64%
General Electric Co. (GE) $32.59 -0.58%
International Business Machines Corp. (IBM) $160.45 -0.56%

Nasdaq 100 - Risers
eBay Inc. (EBAY) $29.93 +10.89%
Biogen Inc (BIIB) $282.45 +7.64%
QUALCOMM Inc. (QCOM) $59.93 +7.36%
Dish Network Corp. (DISH) $53.71 +3.35%
Celgene Corp. (CELG) $107.45 +2.71%
Seagate Technology Plc (STX) $31.22 +2.36%
Vertex Pharmaceuticals Inc. (VRTX) $93.21 +2.26%
Skyworks Solutions Inc. (SWKS) $70.92 +2.06%
Charter Communications Inc. (CHTR) $240.48 +1.82%
Liberty Global plc Series C (LBTYK) $30.55 +1.50%

Nasdaq 100 - Fallers
Intel Corp. (INTC) $34.27 -3.98%
Tractor Supply Company (TSCO) $89.74 -3.64%
Tesla Motors Inc (TSLA) $220.50 -3.44%
Micron Technology Inc. (MU) $13.18 -3.02%
JD.com, Inc. (JD) $21.99 -2.96%
American Airlines Group (AAL) $34.96 -2.67%
Netflix Inc. (NFLX) $85.99 -2.18%
Adobe Systems Inc. (ADBE) $96.34 -2.09%
Lam Research Corp. (LRCX) $89.32 -2.07%
Symantec Corp. (SYMC) $20.28 -2.03%