US STOCKS-Wall St mixed on lower jobless claims, retail sales
* June sales fall at apparel retailers, warehouse clubs
* Weekly jobless claims drop, continuing claims up
* Dow nearly flat; S&P 500 up 0.4 pct; Nasdaq up 0.5 pct
* For up-to-the-minute market news click [STXNEWS/US] (Updates to mid-morning)
NEW YORK, July 9 (Reuters) - The Nasdaq and the S&P 500 rose slightly on Thursday as investors unloaded consumer staple and healthcare stocks and bought technology and commodity-related shares.
Lower initial claims for jobless benefits and weak monthly retail sales figures did not give direction to the market, which is now focused on earnings reports scheduled for the next few weeks. (For details, see [ID:nN09442078])
Alcoa Inc (AA.N) rose 0.3 percent to $9.49 after posting a third consecutive quarterly loss Wednesday, though the deficit less than estimated. [ID:nN08471164] Materials shares in general were stronger, however, leading the S&P 500.
Alcoa results eased investor worries about corporate earnings, but the loss by the largest U.S. aluminum maker underscored the pain inflicted on corporate results by the severe recession.
Shares of healthcare companies were among the biggest drags, with Dow component Merck & Co Inc (MRK.N) down 4.4 percent to $26.81 on speculation its Zetia cholesterol drug fared poorly in a clinical trial comparing it to a drug from Abbott Laboratories. (ABT.N) [ID:nN09448920]
Energy shares rose, with the S&P energy index .GSPE up 1.7 percent, even as crude oil futures CLc1 declined. Oil giant Chevron Corp (CVX.N), up nearly 1 percent, is expected to report interim quarterly results later Thursday.
The rise in commodity-related shares reflected traders moving in and out of industry sectors, said Bruce Bittles, chief investment strategist at Robert W. Baird & Co in Nashville, Tennessee.
"They were down a lot in the past weeks, particularly metals and energy," he said.
He expects buying to pick up. "Maybe it's going to take a few more earnings reports to get that underway, but that's what I think should happen," said Bittles.
The Dow Jones industrial average .DJI dropped 4.61 points, or 0.06 percent, to 8,173.80. The Standard & Poor's 500 Index .SPX rose 3.16 points, or 0.36 percent, to 882.72. The Nasdaq Composite Index .IXIC gained 8.79 points, or 0.50 percent, to 1,755.96.
June sales fell at many retailers as the weak economy and cool, rainy weather dashed interest in summer shopping, further hampering hopes of growth in an economy so dependent on consumer spending. [ID:nN08385359] Continued...
