NEW YORK (CNNMoney.com) -- The Dow industrials flirted with 12,000 for the second day running Thursday as investors digested a mixed bag of earnings from leading banks, blue chips and technology companies.

The 30-share Dow (up 10.41 to 12,003.09, Charts) edged higher about 2-1/2 hours into the session, and traded near the 12,000 milestone, which it crossed for the first time Wednesday.

The broader S&P 500 (down 1.20 to 1,364.76, Charts) index was little changed while the tech-fueled Nasdaq composite (up 0.64 to 2,337.79, Charts) edged lower.

"There's a lot of momentum to the upside," said Warren West, president of Greentree Brokerage Services. "There's nothing really on the earnings side to keep us back."

West said a combination of factors - including solid corporate profits, the possibility of flat or declining interest rates and a cooling of commodity prices - have all helped fuel the record-setting run on Wall Street. Wednesday the Dow closed at a record high for the eighth time in the past 11 sessions.

"The economy continues to weaken," he said "But everyone is convinced the Federal Reserve will be able to engineer a soft landing" of slower growth and lower inflation without a recession.

Earnings news was mixed Thursday as the numbers kept rolling in. Tech stocks were volatile, with some issues swinging widely.

Apple Computer (up $4.52 to $79.05, Charts) reported earnings after the bell Wednesday that easily topped Wall Street expectations, although its guidance for the current period was a bit below forecasts. The stock jumped 6 percent in Thursday trade.

Online auction site eBay (Charts) also reported better than expected results as well and the shares also climbed about 6 percent.

But chipmaker Advance Micro Devices (down $2.81 to $21.42, Charts) posted improved earnings that fell short of forecasts and the stock skidded 10 percent.

And computer maker Dell (down $1.56 to $23.14, Charts) tumbled 6 percent after the research firm Gartner said rival Hewlett-Packard (up $0.54 to $39.55, Charts) reclaimed the top spot in global PC sales.

Banks didn't fare well either, although their stock price swings weren't as drastic.

Citigroup (down $0.47 to $49.72, Charts) reported better-than-expected earnings but revenue that fell short of forecasts. Shares of the nation's biggest bank stock fell about 1 percent.

Bank of America (down $0.96 to $52.85, Charts) saw it's stock fall more than 1 percent despite profits that topped forecasts.

In other earnings news, Coca-Cola (up $0.96 to $44.92, Charts) posted improved results. Drugmaker Pfizer (up $0.17 to $28.27, Charts) saw earnings edge past forecasts. Conglomerate Honeywell (down $1.23 to $41.40, Charts)beat estimates. And McDonald's (down $0.58 to $40.89, Charts) reported improved results that met its recently raised guidance.

Falling oil prices, strong earnings and fewer inflationary concerns helped lift the Dow above 12,000 for the first time Wednesday, although it closed just short of the benchmark.

Thursday also marks the 19-year anniversary of the October 1987 stock market crash, so-called Black Monday, the worst one-day drop in Wall Street's history. On Oct. 19 of that year the Dow tumbled 22.6 percent.

Oil prices rose Thursday after Saudi Arabia said it supports a production cut of 1 million barrels a day. OPEC is currently meeting in Vienna to discuss such a cut.

U.S. light crude gained 25 cents to $57.90 a barrel on the New York Mercantile Exchange.

Treasury prices fell, lifting the yield on the 10-year note to 4.80 percent from 4.76 percent late Wednesday. Bond prices and yields move in opposite directions.

In currency trading, the dollar fell against both the euro and the yen.

The Index of Leading Economic Indicators, a measure of future economic growth, rose 0.1 percent in September to 137.7, the index's first rise in three months. But it was still below Wall Street expectations for a 0.3 percent gain.

Initial jobless claims fell to 299,000 last week from 309,000 the previous week, according to the Labor Department. Economists surveyed by Briefing.com had forecast 310,000 claims.

Stocks closed mostly lower in Asia. Stocks also were lower in late-day trading in Europe.

Market breadth was positive. On the New York Stock Exchange, winners beat losers three to two on volume of 598 million shares. On the Nasdaq market advancers topped decliners three to two as 797 million shares changed hands.

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