US markets end flat on Friday

US markets ended the lackluster trade mixed on Friday, as traders focused on the latest batch of earnings news and a rally in crude oil futures. The tech-heavy Nasdaq got some benefit from a strong gain by Microsoft (MSFT), with the software giant jumping by 4.3 percent. With the gain, Microsoft reached a record closing high. The advance by shares of Microsoft came after the company's first quarter adjusted earnings per share and revenues exceeded forecasts, helped by a strong performance by its Cloud business. Shares of McDonald’s (MCD) moved to the upside after the fast food giant reported third quarter earnings and sales that beat analyst estimates. Global same-store sales rose 3.5 percent during the quarter. Meanwhile, General Electric (GE) closed modestly lower after the conglomerate reported third quarter earnings that beat estimates but on lower than expected revenues. GE also lowered its full-year revenue growth forecast.

On the sectoral front, while many of the major sectors ended the day showing only modest moves, considerable strength was visible among internet stocks. PayPal helped to lead the sector higher, although j2 Global (JCOM), Twitter (TWTR), and VeriSign (VRSN) also posted notable gains. Tobacco stocks also showed some strength on the day, with Reynolds American (RAI) rising sharply after British American Tobacco (BTI) offered to acquire the 58 percent stake in the company it does not already own for $47 billion. On the other hand, natural gas stocks came under pressure over the course of the session, dragging the NYSE Arca Natural Gas Index down by 1.7 percent. Southwestern Energy (SWN) posted a steep loss after reporting weaker than expected third quarter earnings.

The Dow Jones Industrial Average lost 16.64 points or 0.09 percent to 18,145.71 and S&P 500 was down by 0.18 points or 0.01 percent to 2,141.16, however Nasdaq was up by 15.57 points or 0.30 percent to 2,141.34. 

The Indian ADRs ended mixed; Tata Motors declined 0.38%, Wipro slipped 0.14% and HDFC Bank was down by 0.13%. On the other hand, Dr. Reddy's Lab gained 0.48%, Infosys added 0.13% and ICICI Bank was up 0.06%.