12:55 PM EST, 01/16/2025 (MT Newswires) -- US equity indexes were mixed in choppy trading on Thursday after retail sales growth slowed by half in December and Q4 earnings season began to pick up steam.

The Nasdaq Composite fell 0.2% to 19,472.6. The Dow Jones Industrial Average rose less than 0.1% to 43,250.5. The S&P 500 climbed 0.1% to 5,957.9 after declining earlier in the session. Consumer discretionary was the worst performer, with communication services and technology falling intraday. Real estate and utilities led the gainers.

In economic news, US retail sales grew by 0.4% in December, versus the 0.8% increase in November and a 0.6% gain expected in a survey compiled by Bloomberg. Excluding a 0.7% increase in motor vehicle sales, retail sales were up 0.4% compared with an expected 0.5% gain. That followed a 0.2% gain in November. After removing motor vehicles and gasoline station sales, retail sales were up 0.3% in December compared with a 0.2% gain in November.

This data should not have much of an impact on the Federal Reserve's near-term view of rates, a Jefferies note said Thursday.

"Various speeches by Fed officials show growing concern that disinflation is hitting a wall, but none have really expressed concern about slowing growth or a threat to the labor market," Jefferies Chief US Economist Thomas Simons said in the note. "As we wrote after the employment data on Friday and the CPI data yesterday, we remain firm in our view that the Fed will cut 3 more times this year, in June, September and December."

US Treasury yields fell, with the 10-year down 5.1 basis points to 4.6% and the two-year rate 3.8 basis points lower at 4.23%.

Gold futures jumped 1.4% to $2,755.10 an ounce, and their silver counterpart climbed 1.1% to $31.86 per ounce.

Further, in economic news, US initial jobless claims rose to 217,000 in the week ended Jan. 11 from an upwardly revised 203,000 in the previous week, according to the US Labor Department. The expectations were for 210,000 in a survey compiled by Bloomberg.

The New York Federal Reserve's services index worsened to minus 5.6 in January from minus 5.2 in December. The index is among early services sector readings for January, signaling contraction is gathering pace.

The Philadelphia Federal Reserve's monthly manufacturing index rose to 44.3 in January from minus 10.9 in December, compared with expectations for minus 5 in a survey compiled by Bloomberg.

In company news, shares of US Bancorp ( USB ) slumped 5.1% intraday, among the worst performers in the S&P 500, after the company reported Q4 adjusted earnings and revenue that missed expectations. UnitedHealth Group ( UNH ) shares dropped 4.8% intraday, the steepest decliner on the Dow, after the company reported lower-than-expected Q4 revenue.

Morgan Stanley ( MS ) reported better-than-expected Q4 results as increased deal activity and initial public offerings buoyed the company's investment banking business. Shares climbed 2.1% intraday.

West Texas Intermediate crude oil futures dropped 1.5% to $78.85 a barrel.