Stocks fall at the open on mixed earnings

Stocks turned mixed in morning trading Thursday after initially falling as Wall Street attempts to keep the recent rally going for a fourth day.

Investors were digesting a large batch of mixed earnings reports as markets are looking to see if corporate profits are strong enough to justify higher stock prices.

The Dow Jones industrial average was down 0.1% but was off its earlier lows of the day. The Standard & Poor's 500 index was up 0.1% and the Nasdaq composite index gained 0.1%.

Companies reporting earnings this morning included: Goldman Sachs, General Electric, Morgan Stanley, PepsiCo, Chipotle Mexican Grill, UnitedHealth.

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After the bell Wednesday, tech giants Google and IBM reported earnings that disappointed investors.

Shares of Google fell more than 3% to $535.15 in morning trading after the Internet search company said profit came in at $6.27 a share. The company was expected to make a profit of $6.40 a share.

IBM dropped more than 3% to $189.84 after reporting first-quarter earnings fell 21% from a year ago.

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Asian stock markets were mostly lower Thursday, with Japan's Nikkei leading the retreat as investors locked in profits after a strong rally. Japan's Nikkei 225 index lost 0.4% to 14,362.94 after rising 3% on Wednesday.

Bank of Japan governor Haruhiko Kuroda said in a speech that the bank would make adjustments as needed to its ultra-loose monetary policy, and he reiterated his confidence that the policy is having the desired effect of stimulating the economy, according to Kyodo news agency.

Hong Kong's Hang Seng edged up 0.1% to 22,724.84 and China's Shanghai Composite Index shed 0.3% to 2,098.65.

In energy trading, benchmark crude oil for May delivery was up 33 cents to $104.09. The contract rose 1 cent to settle at $103.76 on Wednesday.

Wednesday, the Dow rose 162.29 points, or 1%, to close at 16,424.85. The three-day rally has put ! the Dow 398.10 points higher than its Friday close, making up for last week's 385.96-point loss.

The S&P 500 index gained 19.33 points, or 1%, to 1,862.31 and is up 2.6% for the week. The Nasdaq composite index surged 52.06 points, or 1.3%, to 4,086.23 and has a 2.2% gain for the week.

Contributing: The Associated Press