Summary About 30 minutes into trade, the Dow Jones Industrial Average rose 4.69 (0.03 percent) to 15,109.81.
NEW YORK (AFP) - US stocks were largely flat in early trade Thursday after recent record-setting gains, despite a favorable report on jobless claims.
The broad-based S&P 500 slipped 1.09 (0.07 percent) to 1,631.60. The S&P 500 has set all-time records for five days in a row. The tech-rich Nasdaq Composite Index was essentially unchanged at 3,413.36.
The lull came after the Dow and S&P set fresh record highs earlier this week amid low interest rates and somewhat better US economic data.
The Department of Labor reported Thursday that new claims of US unemployment insurance benefits fell to 323,000, well below the 336,000 consensus estimate.
Major indices "are poised to take a breather from their recent rally despite this morning s positive update on the labor market," said Wells Fargo in a market note.
News Corp. rose 4.5 percent after reporting revenues that exceeded analyst estimates by $400 million. The company said it had strong income growth in its cable, film and television segments. The company plans a national sports channel, Fox Sports 1.
Barnes & Noble jumped 21.8 percent following a published report that Microsoft was considering a $1 billion acquisition of its e-reader Nook business. Microsoft shares were down 0.5 percent.
Videogame creator Activision Blizzard fell 7.0 percent after acknowledging lower "World of Warcraft" subscriptions and providing earnings guidance that fell short of analyst expectations.
Electric car manufacturer Tesla surged 24.0 percent after earnings came in triple expectations, and it raised its forecast for number of cars to be delivered in 2013.
Specialty coffee company Green Mountain Coffee Roasters gained 18.0 percent after besting earnings expectations by 20 cents per share. The company also announced an expanded venture to sell Starbucks single-serve products in Green Mountain s brewing systems globally.
Bond prices fell. The yield on the 10-year US Treasury rose to 1.81 percent from 1.76 percent late Wednesday, while the yield on the 30-year edged higher to 2.99 percent from 2.98 percent. Bond prices move inversely to yields.
