Summary Wal-Mart reported a solid rise in fourth-quarter earnings to $4.96 billion.
NEW YORK (AFP) - US stocks traded mostly lower Thursday as investors eyed European tensions over Greece s latest debt proposal, a plunge in US oil prices and Wal-Mart s cut in its earnings forecast.
Half an hour into trade, the Dow Jones Industrial Average stood at 17,952.34, down 77.51 points (0.43 percent).
The broad-market S&P 500 fell 5.47 (0.26 percent) to 2,094.21, while the tech-rich Nasdaq Composite gained 6.68 (0.14 percent) at 4,913.05.
Wal-Mart Stores, the world s largest retailer, was the Dow laggard, shedding 2.7 percent.
Wal-Mart reported a solid rise in fourth-quarter earnings to $4.96 billion, beating Wall Street estimates, but its forecast for the full year came in weaker than expected. The company cited the negative impact of a strong dollar, boosted wages in the United States and the cost of closing about 30 stores in Japan.
Market sentiment was also under pressure from the fraught situation in the eurozone over Greece s debt bailout. Germany rejected Thursday a request by Athens for a six-month extension to its EU loan program. Eurozone finance ministers are scheduled to meet Friday in Brussels Friday to consider the request.
Falling crude-oil prices also dragged, sending the shares of oil majors sharply lower. The US benchmark West Texas Intermediate futures contract dived below $50 a barrel. Dow members Chevron and ExxonMobil tumbled by 2.1 percent and 1.8 percent, respectively.
Actavis added 2.0 percent after Canaccord raised the pharmaceutical company s price target. On Wednesday the company announced it would rename itself Allergan after completing the takeover of Botox-maker Allergan.
Solar energy company Solar City plunged 5.7 percent after saying losses deepened in the latest quarter.
Delta Air Lines soared 3.4 percent. It recently announced the largest profit sharing program in the company s history, with employees worldwide earning more than $1 billion for the 2014 performance.
Bond prices were little changed. The yield on the 10-year Treasury bond was unchanged at 2.08 percent from late Wednesday, while that on the 30-year slipped to 2.70 percent from 2.71 percent. Bond prices and yields move inversely.
