NEW YORK (TheStreet) -- U.S. benchmark stock indices were mixed on Friday, with the Dow Jones Industrial Average and S&P 500 slipping despite banking giant Wells Fargo (WFC) meeting earnings expectations and European markets stabilizing.
The Dow was down 0.14% to 16,891.3. The S&P 500 was sliding 0.12% to 1,962.29. The Nasdaq was up 0.14% to 4,402.29, buoyed by gains in Internet names such as Amazon (AMZN), up 4.9%, eBay (EBAY), up 2.4%, and Google (GOOGL), up 1%.
Wells Fargo, the nation's largest mortgage lender, posted in-line second-quarter earnings on Friday of $1.01 a share on better-than-expected revenue of $21.1 billion. The Wall Street revenue consensus target was $20.84 billion. The banking giant reported total average loans of $831 billion, up $32.7 billion or 4% from the 2013 second quarter and noted that it increased its quarterly common stock dividend by 17% to 35 cents a share in the second quarter. Shares were down 0.6% to $51.50.
International markets tumbled Thursday, with fears sparked by a missed debt service payment by a parent company of Portugal's Banco Espirito Santo. Portugal's second-largest bank by market value on late Thursday reassured the markets that potential losses resulting from its exposure to Espirito Santo Group will not compromise its compliance with regulatory capital requirements. Currently it has an exposure of 1.18 billion euros to Grupo Espirito Santo.