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* China to halve extra tariffs on some U.S. imports
* Twitter advances as quarterly revenue tops $1 bln
* Kellogg declines after earnings outlook disappoints
* Indexes: Dow flat, S&P up 0.15%, Nasdaq up 0.29%
(Updates to open)
By Medha Singh
Feb 6 (Reuters) - The S&P 500 and Dow Jones Industrials
indexes eased from their record highs on Thursday, as investors
took a breather after a stellar run this week on waning worries
about the economic damage from the coronavirus epidemic.
Both indexes scaled new levels at the open as China said it
would halve extra tariffs on some U.S. goods following hefty
stimulus to support an economy hit by shutdowns and travel
restrictions due to the virus outbreak. "The fear investors had when the virus first started seems
to have abated somewhat," said Rick Meckler, partner, Cherry
Lane Investments, a family investment office in New Vernon, New
Jersey.
A string of positive U.S. economic data have also helped
mitigate worries, fueling a Wall Street rally this week. The
Nasdaq hit a record high in the previous session and the
benchmark S&P 500 is on pace for its best week in eight months.
However, the impact of the health emergency in China
continued to show up in corporate reports. Chipmaker Qualcomm
Inc QCOM.O flagged a potential threat to the mobile phone
industry from the outbreak. Its shares fell 4%. At 10:18 a.m. ET, the Dow Jones Industrial Average .DJI
was nearly unchanged at 29,287.91, while the S&P 500 .SPX was
up 4.86 points, or 0.15%, at 3,339.55. The Nasdaq Composite
.IXIC was up 27.17 points, or 0.29%, at 9,535.86.
Seven of the 11 major indexes were lower, led by a 0.8% fall
for energy stocks .SPNY .
Breakfast cereal maker Kellogg Co K.N tumbled 6.1% after
it forecast full-year earnings well below market expectations.
Becton, Dickinson and Co BDX.N dropped 11.2% after the
medical technology company lowered its full-year revenue and
profit forecasts. The stock was the biggest drag on the S&P 500.
Philip Morris International Inc PM.N gained 4.4% after the
Marlboro cigarettes maker topped quarterly profit estimates.
Twitter Inc TWTR.N gained about 15.5% after the
micro-blogging platform touched $1 billion in quarterly revenue
for the first time ever, beating analysts' estimates.
Advancing issues outnumbered decliners by a 1.20-to-1 ratio
on the NYSE and by a 1.16-to-1 ratio on the Nasdaq.
The S&P index recorded 55 new 52-week highs and no new low,
while the Nasdaq recorded 81 new highs and 20 new lows.
As the week draws to a close, investor attention will shift
to the crucial U.S. jobs report on Friday.