Mixed quarterly reports sent Wall Street lower at midday on Thursday, despite Tuesday’s interest rate cut and a Labor Department report that showed that new unemployment claims were down by 9,000 last week.

There was little indication from Federal Reserve chairman Ben Bernanke, in testimony before the House Financial Services Committee, of what if any further measures the Fed might take to further alleviate the repercussions from the credit crisis.

The Dow Jones Industrial Average dropped 0.13 percent to 13,797.35, while the Nasdaq Composite was down 0.18 percent to 2,661.71 and the S&P 500 was 0.27 percent lower to 1,524.96.

In the financial services sector, Goldman Sachs (NYSE: GS) gained $2.80 to $208.10 after it said its profits were up by 79 percent in the third quarter, a surprise considering the chaos in the subprime market.

While Bear Stearns (NYSE: BSC) saw declines after it said its profits fell by 62 percent in the quarter, it added $3.13 to $118.77 after its CFO said that the worst of the losses seems to be behind it.

Elsewhere, electronics retailer Circuit City was $1.81 percent lower to $8.76 after it reported losses in the quarter.

Most airlines were lower as oil prices remained near record levels and Goldman Sachs issued a warning that the sector could be subject to competitive pressures and a tough economy.

Continental Airlines (NYSE: CAL) was $1.02 lower to $32.66, while Alaska Air (NYSE: ALK) dropped 96 cents to $24.27.

AMR (NYSE: AMR), the parent of American Airlines, fell 70 cents to $23.92.

Goldman Sachs cut its rating on both AMR and Alaska Air from “neutral” to “sell”.

On the other hand, the broker raised its recommendation on Southwest Airlines (NYSE: LUV) from “sell” to “neutral”, sending Southwest’s shares 21 cents higher to $15.34.

Wall Street was slightly lower at midday on Tuesday, with the Dow Jones Industrial Average dropping 0.2 percent to 12,417.80. The Nasdaq Composite had lost 0.7 percent by mid-session, to 2,418.17, while the S&P 500 was 0.2 percent lower to 1,419.03. The small-cap Russell 2000 was down 0.3 percent to 779.90.

The New York Stock Exchange dropped 0.7 percent to $100.69 on the news that Euronext stockholders have approved a merger between the two exchange operators.

Electronics retailers were also lower. Best Buy fell 3 percent to $47.87, while Circuit City was 18.2 percent lower to $18.61. Circuit City’s declines came after the announcement that it had lost 9 cents per share its fiscal third quarter after having projected a profit of 5 cents per share.

Digital security company Applied Signal was down 16 percent to $13.22 after its quarterly report showed that its profits were only 5 cents per share, well below the expected 22 cent per share profit.

Software manufacturer Oracle dropped 4.4 percent to $17.13 even though its earnings report, released Monday, said that the company had equaled expectations.

Morgan Stanley, on the other hand, added 2 percent, to $81.96 after its profits hit $2.08 per share, well above its predicted profit of $1.77 per share.

Wall Street was slightly higher at mid-session on Wednesday. The Dow Jones Industrial Average had added 0.1 percent to 12,329.28 but was well down from the new record high of 12,368.61 it reached earlier in the day. Meanwhile, the Nasdaq Composite was up a bare 0.02 percent to 2,432.03 and the S&P 500 had gained 0.2 percent to 1,414.26. The small and mid-cap Russell 2000 index was 0.08 percent higher to 789.01.

Airlines were higher after United Airlines said that it has opened talks with Continental Airlines concerning the possibility of a merger. United was 4.5 percent higher to $45.54, while Continental gained 5.2 percent to $45.11. Elsewhere, the news that AirTran Holdings’ bid for Midwest Air had been rejected sent Midwest 21.26 percent higher to $11. AirTran added 1.5 percent to $12.53.

The retail sector was mixed. Home Depot added 1.3 percent to $39.22 on the news that it has acquired 12 stores in China. Best Buy and Circuit City both declined, however, after Prudential Securities issued a downgrade on both consumer electronics retailers on worries about the low price of flat-screen televisions. Circuit City dropped 1.4 percent to $23.24, while Best Buy was 1.5 percent lower to $50.51.

Anadarko Petroleum fell 3 percent to $46.19 after Goldman Sachs dropped its rating on the oil company from “buy” to “neutral”.

A broker upgrade helped Apple Computer to a 1.9 percent gain to $87.80. Morgan Stanley kept its recommendation for the computer maker at “overweight”, but upped its target share price from $90 to $110 on the theory that revenues could be increased by the introduction of new products.

New York equities markets were higher at mid-session on Friday on renewed consumer confidence as new data hinted at moderating inflation and as the price of crude oil continued to decline. The Dow Jones Industrial Average was up 0.4 percent to 11, 567.41, poised to end the week with a gain of 1.5 percent. The Nasdaq Composite had added 0.2 percent so far on the session to 2,233.51, up 3.1 percent on the week as a whole. The S&P 500 had added 0.2 percent at noon to 1,319.36, for a total gain of 1.6 percent this week.

All the news wasn’t positive, however. With commodities prices down, miners and the oil sector had a losing week. ExxonMobil was 3.3 percent lower to $64.60. Among miners, Newmont Mining fell 8.6 percent to $44.04, while Freeport McMoran dropped 10.6 percent $52.12. Even coal miners were lower, with Consol Energy declining 8.4 percent on the week to $30.41.

Ford Motor also ended the week lower after it said it will cut 14,000 salaried positions in an attempt to save $5 billion per year. The announcement spurred Merrill Lynch to lower its recommendation on Ford from “neutral” to “sell”. Shares in the carmaker were 9.2 percent lower over the week to $8.25.

Homebuilders had a good week, helped by declining yields on 10-year Treasury issues. DR Horton ended the week 10.2 percent higher to $24.25, while KB Home added 12.7 percent to $45.48.

The retail sector saw gains as well. Wal-Mart gained 3.5 percent to $48.36, while home improvement retailer Home Depot added 7.5 percent to $36.85. Electronics retailers were up after Best Buy reported better than anticipated growth in earnings in the second quarter. Best Buy was 15 percent higher during the week to $53.27, and Circuit City followed it higher, adding 12.6 percent to $25.78.

New York equities markets were lower at midday on Tuesday on declining consumer confidence and losses in the oil sector due to falling crude oil prices. Mid-session found the Dow Jones Industrial Average 0.4 percent lower to 11,312.47. The S&P 500 was also down by 0.4 percent, to 1,296.38, while the Nasdaq Composite had declined by 0.6 percent to 2,148.09.

Homebuilders were lower on the day. DR Horton fell 2.6 percent to $21.29 and Puelte dropped 2.7 percent to $28.52.

In the oil sector, Murphy Oil declined by 2.2 percent to $48.74, while Sunoco was 2.4 percent lower to $74.03 as crude oil prices on the New York Mercantile Exchange reached their lowest level in over two months.

The declining oil prices helped the airlines, however. JetBlue Airways added 1.1 percent to $10.37, while Continental Airlines gained 2.3 percent to $24.50.

Elsewhere, brokerages were down. Morgan Stanley was 2.6 percent lower to $65.18 and Lehman Brothers dropped 3.5 percent to $62.18.

Apple Computers also declined, falling 2.3 percent to $65.42 after Universal Music said it would open a free online music website to compete with Apple’s iTunes. Circuit City, the electronics retailer, was also lower, declining 2.7 percent to $22.31.

At midday on Friday, the New York equities markets seemed poised to end the week lower than they began as weak data and rising crude oil prices hurt investor sentiment. The Dow Jones Industrial Average was 0.2 percent lower for the day and 0.9 percent down on the week to 11,284.45 and the S&P 500 was also 0.2 percent lower for the session so far and 0.6 percent lower for the week to 1,294.18. While the Nasdaq Composite was 0.1 percent higher for the day at 2,139.64, it was 1.1 percent lower on the week.

Among the economic data that contributed to this week’s declining sentiment was a larger than expected decline in the sale of both new and existing homes in July. Durable goods orders were also down in the latest figures. The bad news on home sales hurt the home improvement retail sector, with Home Depot dropping 4.1 percent during the week to $33.36, while Lowe’s lost 10.1 percent to $26.55. Beyond the housing data, Lowe’s was also hurt by a second quarter report that showed profits lower than had been expected.

Other retailers were also down on the week as the slowdown in home sales raised concerns that consumer spending in other areas would also decline. Among consumer electronics retailers, Best Buy dropped 7.1 percent to $45.53, while Circuit City was 12.2 percent lower to $22.50. Discount retailer Dollar General dropped even more, falling 13.2 percent to $12.23.

In the homebuilding sector, KB Home was 8.9 percent lower over the week to $40.44, partly on the news that it is being informally investigated by the Securities and Exchange Commission for its practices in the granting of stock options.

The news on orders for durable goods affected heavy industry. Caterpillar, the construction equipment maker, declined by 3.5 percent to $65.91, while aerospace company Boeing dropped 4.3 percent to $74.27.

The New York equities markets were mixed at midday on Tuesday after having suffered losses in the past two sessions. The Dow Jones Industrial Average was 0.7 percent higher at 11,022.31 and the S&P 500 had gained 0.6 percent to 1,247.22. The Nasdaq Composite, however, was 0.5 percent lower at 2,121.01.

Retailers were up on the day. Supermarket chain Safeway was up 2.6 percent to $25.06, while rival Kroger had added 5.3 percent to $20.48 on higher than forecast earnings in its first quarter. Meanwhile, discount reatiler Costco gained 2.7 percent to $55.00 on an upgrade from “neutral” to “overweight” from JPMorgan.

Companies that produce food staples were up as well. Kellog, the cereal maker, was up 1 percent to $47.34, while Campbell Soup added 1.2 percent to $35.93 and condiment maker Heinz gained 1.3 percent to $41.65.

Miners, too, saw advances. Newmont Mining was up 1.9 percent to $50.10. Phelps Dodge gained 2.4 percent to $78.88, while Freeport McMoran added 2.6 percent to $48.20 and Barrick Gold advanced by 2.9 percent to $28.02.

In the airline sector, Continental Airlines was up 3.1 percent to $27.72, while JetBlue gained 5.2 percent to $12.13 on positive comments from Morgan Stanley.

The semiconductor sector, however, saw losses, as Sandisk lost 2.1 percent to $51.38 and Nvidia dropped 2.5 percent to $20.48.

Electronics retailer Circuit City was down 0.9 percent to $28.36 after Monday’s statement that higher interest rates are likely to affect its sales.

At midday on Wednesday, the New York equities markets had made back some of Tuesday’s losses, helped out by good news on the trade deficit and out of several corporations. The Dow Jones Industrial Average was at 11,123.24 by mid-session, a gain of 0.3 percent, and the S&P 500 had gained 0.1 percent to 1,287.15. The Nasdaq Composite, however, held steady at 2,310.07.

In the telecommunications sector, Motorola added 1.3 percent to $23.87 on an upgrade from Bear Stearns on the theory that the company would continue to increase its share of the market because of demand for its thin handsets.

Aircraft manufacturer Boeing was up 3.7 percent to $83.53 on a deal to sell 80 of its 737 jets to China. This was Boeing’s largest one-day increase in two months.

In the automobile manufacturing sector, General Motors added 2.2 percent to $19.65, also on news related to China. GM said that sales of it’s Chevrolet line in China will increase by at least 50 percent this year. Ford Motor also saw an advance on the day, by 1 percent to $7.24.

In the retail sector, Circuit City added 2.3 percent to $25.18 after is said that its fourth-quarter profits were up by 65 percent on Christmas sales of digital music players and flat-panel televisions.

Biotechnology group Genentech was down 1.1 percent to $80.84 despite a 48 percent rise in profits in the first quarter after ales of its drug Rituzan did not meet expectations.

Bosch & Lomb dropped 4.7 percent to $46.75, seeing declines for the second day in a row after having to withdraw its contact lens solution due to reports that some users had contracted fungal infections.