US stocks trade mixed in morning session

New York, April 16 (IANS) The US stocks traded mixed on Friday, as investors assessed declines in oil prices and the newly-released quarterly corporate earnings.

By noon, the Dow Jones Industrial Average ticked down 6.95 points, or 0.04 percent, to 17,919.48. The S&P 500 lost 0.98 points, or 0.05 percent, to 2,081.80. The Nasdaq Composite Index was up 1.40 points, or 0.03 percent, to 4,947.29, Xinhua news agency reported.

Energy traded lower as the greatest laggard in the S&P 500, as the US crude oil futures were off more than three percent in morning trade on Friday.

On the economic front, the US industrial production decreased 0.6 percent in March for a second month in a row, according to the Fed on Friday.

In corporate news, Citigroup reported on Friday first quarter 2016 net income of $3.5 billion, or $1.10 per diluted share, on revenues of $17.6 billion. Both the bank’s earnings and revenue topped expectations. Shares of Citi rose 0.64 percent to 45.27 around midday trading.

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