NEW YORK (AP) — Stocks indexes are flat in midday trading after a surprise jump in applications for unemployment benefits and mixed earnings reports from large U.S. companies.
First-time applications for unemployment rose to the highest level since late October. Economists said snowstorms in some parts of the country forced companies to lay off workers.
AT&T is down 3 percent after reporting that new wireless contracts fell to their lowest level in more than five years.
Caterpillar is up 1 percent after its fourth-quarter profit quadrupled because of strong demand for mining and construction equipment.
