United States markets were mostly higher on Friday after another mixed batch of corporate earnings, with positive results from Amazon and Google’s parent company, Alphabet, and disappointing results from the oil giants Chevron and Exxon Mobil.
The Bank of Japan disappointed investors with stimulus plans that didn’t go as far as many had hoped. An earlier slump in oil prices reversed, helping the broader market.
KEEPING SCORE In early afternoon trading, the Dow Jones industrial average was down 0.1 percent, and the Standard & Poor’s 500-stock index was up 0.19 percent. The Nasdaq composite index rose 0.19 percent.
LOW ENERGY Shares of Exxon Mobil and Chevron declined after both companies reported steep drops in quarterly earnings because of low oil prices. Exxon Mobil had its smallest quarterly profit in 17 years, well below what analysts had predicted. Chevron fared slightly better. While earnings dropped sharply from a year ago, Chevron’s results still beat analysts’ expectations. Exxon stock fell 2.1 percent and Chevron shares edged up 0.04 percent
ALPHABET GROWS Shares of Alphabet, the parent company of Google, rose 4.5 percent. The company reported earnings of $8.42 a share, compared with the $8.04 that analysts had predicted.
STRONG SALES Amazon shares rose 1.6 percent. The online retail giant reported a profit of $1.78 a share, compared with the $1.11 a share that analysts had expected. Amazon reported that it sold $30.4 billion in goods in the quarter, up 31 percent from a year earlier.
OIL benchmark United States crude oil reversed course and gained 23 cents, to $41.39 on the New York Mercantile Exchange, while Brent crude, used to price international oils, fell 40 cents, to $42.30 in London.
EUROPEAN MARKETS In Germany, the DAX closed up 0.6 percent, and in France, the CAC 40 gained 0.4 percent. The FTSE 100 edged up 0.05 percent in Britain.
JAPAN SURPRISE Japan’s central bank ended a policy meeting on Friday by announcing that it would expand purchases of exchange-traded funds from financial institutions to help inject more cash into the economy and pursue its 2 percent inflation target. Nevertheless, the measures fell short of hopes for more aggressive action. That helped the yen surge in the currency markets as investors priced in fewer yen in circulation — the dollar was 2.1 percent lower at 103.03 yen.
ASIA’S DAY The Nikkei 225 gained 0.6 percent in Japan, while in Hong Kong, the Hang Seng fell 1.3 percent. The Shanghai composite index slipped 0.5 percent in China. In Australia, the S.&P./ASX 200 rose 0.1 percent.
BONDS AND CURRENCIES Bond prices rose. The yield on the benchmark United States 10-year Treasury note fell to 1.48 percent from 1.51 percent the day before. The euro rose to $1.1167 from $1.1073.