The major US stock indices traded mixed on Friday as traders digested October's surprisingly strong manufacturing growth, with the Dow and the S&P 500 not far from record highs reached earlier this week. American International Group Inc fell 6.3 percent to $48.39, making it the S&P 500's biggest loser, a day after the insurer reported third-quarter earnings that slightly beat expectations.
However, analysts expected better results in the insurer's consumer lines business and said it benefited from a favourable tax rate this most recent quarter. The Dow Jones industrial average rose 24.50 points or 0.16 percent, to 15,570.25. The Standard & Poor's 500 dipped just 0.35 of a point, or 0.02 percent, to 1,756.19. The Nasdaq Composite Index slipped 5.85 points or 0.15 percent, to 3,913.86.
Shares of Chevron Corp fell 2.2 percent to $117.33, accounting for about 14 points of negative drag on the Dow Jones industrial average, after the energy company reported disappointing results on Friday. Chevron's third-quarter revenue came in below expectations. Boeing Co shares gained 1.4 percent to $132.37 and helped support the Dow industrials. On Thursday, Boeing said it would increase production of its 737 aircraft to 47 planes per month by 2017 from 38 now - a surprising move that analysts said boded well for the US company, its suppliers and airlines.
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