NEW YORK, Aug. 2 (Xinhua) -- U.S. stocks traded mixed on Thursday after U.S. tech giant Apple reached a record high of 1 trillion U.S. dollars in market value.
At midday, the Dow Jones Industrial Average dropped 67.31 points, or 0.27 percent, to 25,266.51. The S&P 500 was up 5.87 points, or 0.21 percent, to 2,816.27. The Nasdaq Composite Index climbed 57.47 points, or 0.75 percent, to 7,764.76.
The S&P 500 and tech-heavy Nasdaq managed to reverse early losses, mainly underpinned by the rallying Apple stocks.
Shares of Apple rose nearly 3 percent following a strong quarterly earnings report earlier this week, even hitting a session high of 207.05 U.S. dollars around midday trading. The iPhone maker also became the first publicly traded U.S. company to reach the record valuation of 1 trillion dollars.
Meanwhile, worries about trade tensions intensified, weighing on the market.
On economic data, the initial jobless claims, a tracker for layoffs in the United States, was 218,000 in the week ending July 28, an increase of 1,000 from the previous week's unrevised level, the Labor Department said on Thursday.
The four-week moving average was 214,500, a decrease of 3,500 from the previous week's unrevised average of 218,000, the data showed. Enditem
