Thursday’s batch of disappointing earnings reports held the major stock indices near the breakeven level. Disappointing quarterly earnings reports from UPS and Dow Chemical (NYSEARCA:DOW) prevented the major stock indices from resuming the advance which stalled on Wednesday.  A surprising increase of initial unemployment claims helped reinforce risk aversion among investors. As of 2:39 EST, the Dow Jones Industrial Average declined 9 points (0.07 percent) to 13,901.  The S&P 500 Index crept upward by 0.02 percent to 1,502 (NYSEARCA:SPY).  As the chart (at left) indicates, the S&P 500 continues to rise above its previous resistance level of 1,470 to its next resistance level in the 1,550 – 1,570 range.  Its Relative Strength Index declined to 69.58 (Chart courtesy of  Stockcharts.com ).  The Nasdaq Composite advanced 0.23 percent to 3,149 (NASDAQ:QQQ).  The Russell 2000 Index climbed 0.58 percent to 902 (NYSEARCA:IWM).   Spy Turns 20 The “Dollar Bull” Index ETF (NYSEARCA:UUP) declined 2 cents (0.09 percent) to 21.62 as of 2:33 EST. As of 2:20 EST, the S&P 500 Volatility Index – or VIX – declined 0.28 percent to 14.28 and the VIX Short-Term Futures ETN fell 0.87 percent to 24.06 (NYSEARCA:VXX). The Euro STOXX 50 Index finished Thursday’s trading session with a 1.07 percent drop to 2,702 – staying well above its 50-day moving average of 2,638.  After breaking above its resistance level of 2,700 on January 21, the STOXX 50 is once again attempting a sustained advance above that level, which has been a barrier since the beginning of the new year.  Its Relative Strength Index has fallen to 60.17 (NYSEARCA:FEZ).  The FTSE 100 Index declined 0.33 percent to 6,301 (NYSEARCA:EWU).  The German DAX Index fell 0.45 percent to 7,706 (NYSEARCA:EWG).  France’s CAC 40 Index dropped 0.87 percent to 3,732 (NYSEARCA:EWQ).  Spain’s IBEX 35 Index took a 2.19 percent nosedive to 8,383 (NYSEARCA:EWP).  Italy’s FTSE MIB Index jumped 1.00 percent to 17,462 (NYSEARCA:EWI). As of 2:28 EST, the euro advanced 0.06 percent against the dollar, trading at $1.3574 (NYSEARCA:FXE). On London’s ICE Futures Europe Exchange, March futures for Brent crude oil advanced by 59 cents (0.51 percent) to $115.49/bbl. (NYSEARCA:BNO, NYSEARCA:USO).   The Doomsayers Are Wrong About Oil Prices February Gold futures declined by $19.40 (1.16 percent) to $1,660.50 per ounce (NYSEARCA:GLD). ETF Summary:  SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA)  -0.17%  as Thursday’s batch of disappointing earnings reports restrain investor enthusiasm. SPDR EURO STOXX 50 ETF (NYSEARCA:FEZ)  -0.96%  as European stocks retreat following the bad news from Banco Santander which had to write down €18.8 billion in non-performing loans, iShares Dow Jones Transportation ETF (NYSEARCA:IYT)  +0.34%  despite the disappointing earnings report from UPS. iShares Barclays 20+ Year Treasury Bond Fund (NYSEARCA:TLT)  +0.36%  as investors breathed a sigh of relief after Wednesday afternoon’s FOMC Meeting Statement revealed that there are no immediate plans to end quantitative easing.   Learn More About iShares ETFs SPDR S&P 500 INDEX ETF (NYSEARCA:SPY)  -0.13%  as investors remain risk averse after the disappointing earnings report from UPS was interpreted as a signal that commerce could be slowing. Bottom line:  Investor enthusiasm remained subdued on Thursday after the disappointing earnings report from UPS was interpreted by many investors as a possible signal that commerce might be slowing.     Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!    Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.