 "Nasdaq")
Wall Street was slightly lower on Friday, weighed down by underwhelming corporate earnings and gross domestic product data.
US economic growth slowed more than expected in the fourth quarter, with GDP rising at a 1.9 per cent annual rate, below the 2.2 per cent rise expected by economists.
Chevron fell 2 per cent to $114.21 after its quarterly profit fell short of analysts' expectations. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.
Starbucks dropped 4 per cent to $56.12 after the world's biggest coffee seller trimmed its full-year revenue forecast. The stock weighed the most on the Nasdaq.
"Earnings have really just been fine," said David Lyon, global investment specialist at JPMorgan Private Bank in San Francisco.
"They haven't been too hot, nor have there been any concerns or cautionary flags raised. I think fine might not be enough in the near term and there is a growing concern that while the numbers have been good, the forward guidance have been just okay."
However, the Dow stayed above 20,000 for the third straight day after breaching the milestone for the first time on Wednesday, helped by the reignition of the post-election rally earlier this week.
All three major indexes were also on track to post weekly gains.
Still, investors retreated to a wait-and-see mode as they sought more clarity on President Donald Trump's policies and the new administration's ability to clear legislature hurdles in its quest to reduce regulation and cut taxes.
"There's definitely a gap between expectations and reality. I think the new administration has probably until the summer time to show some forward momentum and progress on getting policy changed and implemented through Congress." said Lyon.
At 10:55 am ET (1555 GMT) the Dow Jones Industrial Average was down 18.56 points, or 0.09 per cent, at 20,082.35.
The S&P 500 was down 3.39 points, or 0.14 per cent, at 2,293.29.
The Nasdaq Composite was down 1.63 points, or 0.03 per cent, at 5,653.55.
Seven of the 11 major S&P sectors were lower, with the energy index's 0.77 per cent fall leading the decliners.
Microsoft rose 2.1 per cent to $65.59, while Intel gained 1.8 per cent to $38.24 after the two companies reported quarterly results above Wall Street expectations.
However, Google parent Alphabet was down 0.4 per cent at $853.40 after it posted fourth-quarter profit below analysts' estimates.
Colgate-Palmolive fell 6.8 per cent to $63.59 after the personal products maker's fourth-quarter revenue missed estimates.
Declining issues outnumbered advancers on the NYSE by 1,691 to 1,062. On the Nasdaq, 1,476 issues fell and 1,090 advanced.
The S&P 500 index showed 18 new 52-week highs and two new lows, while the Nasdaq recorded 73 new highs and 20 new lows.
