US stocks edged lower in choppy trading on Thursday as earnings, including Alibaba's, and a further drop in US crude futures dragged shares lower, while a strong reading in the job market gave equities some support. Alibaba Group shares dropped 9.2 percent to $89.37 after the company's revenue missed Wall Street expectations. The decline took shares of Yahoo, which said earlier this week it will spin off its Alibaba stake, down 5.9 percent to $43.72.
At 11:55 am EST (1655 GMT) the Dow Jones industrial average rose 63.21 points, or 0.37 percent, to 17,254.58, the S&P 500 gained 0.07 points, or 0 percent, to 2,002.23 and the Nasdaq Composite dropped 7.84 points, or 0.17 percent, to 4,630.15. Qualcomm weighed the most on the Nasdaq 100 with a 11.4 percent drop to $62.88 after it trimmed its outlook for 2015, saying it expects its newest mobile chip will not be used in a major customer's flagship smartphone.