The Standard & Poor’s 500 Index set another record closing high as Facebook Inc. rallied on higher revenue, and growth in global manufacturing offset a drop in home sales.
The S&P 500 rose just one point to end at 1,988, its second record closing high in a row. The Dow Jones industrial average fell three points or 0.02% to close at 17,084. The Nasdaq Composite shed two points to finish at 4,472.
Investors shrugged off the latest economic data as US claims for initial jobless benefits fell to a seasonally adjusted 284,000, the lowest since mid-February 2006. New home sales declined 8.1% in June, the biggest drop in almost a year. The PHLX housing sector index lost 3%, marking its biggest one-day drop since February.
Facebook Inc (FB.O) jumped 5.2% and hit an intraday record high of $76.74 a day after the world's No. 1 social network reported earnings and revenue that beat expectations.
Caterpillar Inc (CAT.N) raised its full-year outlook but posted a decline in sales, pushing its stock down 3.1%.
Among the companies that reported results after the closing bell, Amazon.com Inc (AMZN.O) shares fell 9.7% after the online retailer reported a second-quarter loss that was wider than expected.
Visa Inc (V.N), the world's largest credit and debit card company, reported earnings growth of 11%, but the Dow component's stock fell 3.3% in extended-hours trading.
Starbucks Corp (SBUX.O) posted revenue that was slightly higher than expected. The coffee chain's stock slipped 0.7% in after-hours trading.
Baidu Inc (BIDU.O) rose 6.4% in extended-hours trading after China's biggest Internet search company reported results that were much stronger than had been expected.
In Asia, shares oscillated between gains and losses on Friday as industrial shares gained and energy producers fell.
The MSCI Asia Pacific Index slipped less than 0.1% to 148 as of 10:30 a.m. in Tokyo, reversing a gain of 0.2%. Japan’s Topix index gained 0.4%. Hong Kong’s Hang Seng Index was little changed, while China’s Shanghai Composite Index gained 0.4%.South Korea’s Kospi index added 0.3%. Australia’s S&P/ASX 200 Index lost 0.3% and New Zealand’s NZX 50 Index was little changed. Singapore’s Straits Times Index slid 0.2%, while Taiwan’s Taiex index dropped 0.6%.