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NEW YORK (CNNMoney)
The Dow Jones industrial average, S&P 500 and Nasdaq edged lower in early trading.
U.S. stocks have been under pressure this week, partly on fears of the U.S. Federal Reserve cutting back on its massive quantitative easing campaign, which has flooded the markets with liquidity.
Strong corporate results and a better-than-expected report from the Labor Department gave markets an initial bounce Thursday.
The Labor Department said jobless claims rose by 5,000 last week to 333,000, slightly lower than expected.
Even with the modest declines this week, stocks are still up 18% to 23% this year.
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Groupon, Tesla lead the charge: Investors were cheered by some strong quarterly earnings as the reporting season winds down.
Groupon (GRPN) surged after the daily deals site posted strong sales and announced a $300 million share-buyback program.
Tesla (TSLA) shares rallied after the electric-car maker reported a surprise quarterly profit. Tesla Model S also got the top crash test rating from the government.
Solar City (SCTY), which is chaired by Tesla CEO Elon Musk, reported a wider loss than analysts had expected.
Green Mountain Coffee Roasters (GMCR) shares fell following quarterly sales figures that missed expectations.
T-Mobile (TMUS) topped revenue forecasts and said it had a net addition of 1.1 million customers during the quarter. Apollo Global Management (APO) swung to a quarterly profit and Priceline.com (PCLN) is up after the close.
Related: Fear & Greed Index, still idling in neutral
On the international stage, European markets rose, while Asian stocks ended mixed. 
First Published: August 8, 2013: 9:52 AM ET
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