U.S. blue-chip stocks snapped a two-day winning streak on Thursday to end lower, hit by some disappointing company earnings, while bond prices partially erased early losses to end only slightly lower.
Crude oil held firm near $49 a barrel, but gold slipped as the dollar rallied against most major currencies.
U.S. blue chips were pressured by disappointing earnings from companies including Caterpillar Inc., but gains in Cisco Systems Inc. helped the Nasdaq nudge ahead.
Company earnings were the principal focus on the heaviest day so far this quarter for corporate reports.
"Broadly, it's been a challenging quarter," said Jack Caffrey, an equity strategist at JP Morgan Private Bank. "For the most part, numbers have been basically in line" with expectations, he said, but outlooks for future profits and revenues have been muted.
The Dow Jones industrial average was down 31.19 points, or 0.30 percent, to close at 10,467.40. The Standard & Poor's 500 Index was up just 0.48 of a point, or 0.04 percent, to end at 1,174.55. The Nasdaq Composite Index was up 1.06 point, or 0.05 percent, to finish at 2,047.15.
Caterpillar fell 5 percent to $86.52, pressuring the Dow, while Cisco rose 3 percent to $18.18, helping the Nasdaq.
After the closing bell, Microsoft Corp. advanced 44 cents to $26.55 on the Inet electronic brokerage system from its Nasdaq close at $26.11. Microsoft, the world's largest software maker, reported better-than-expected profit and revenue growth.