Stocks are going nowhere

Stocks opened nearly flat on a fairly busy Thursday for economic data and earnings.

Just after the open and near 9:32 a.m. ET, the Dow was up 19 points, the S&P 500 was up 1 point, and the Nasdaq was flat.

Stocks rose to the highest levels of the year on Wednesday

Bank of America shares fell 1% in premarket trading after it reported a earnings in line with expectations and revenues that fell short.

Wells Fargo also reported earnings, beating expectations for adjusted earnings per share. Its profits fell as the company’s oil and gas loan portfolio continues to take hit from the drop in oil prices.

In economic data, the core consumer price index (CPI) that strips out energy and food costs rose 0.2% in March, less than expected.

But initial jobless claims stunned again by falling to the lowest level since 1973, at 253,000 filings for last week.

NOW WATCH: A psychologist reveals a trick to stop being lazy

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.