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NEW YORK — Earnings worries thwarted the stock market for a second straight session Thursday, making for a choppy and ultimately directionless day on Wall Street. 

Analysts said the market is unsure about what to expect when profit reports begin next week. End-of-the-quarter buying and selling by portfolio managers also influenced trading. “It’s the same basic problem: earnings,” said Larry Wachtel, market analyst at Prudential Securities. “The market is going to act like this until investors have a better of idea of where the economy is headed.” 

The market’s sour mood reflects a mix of worry about the economy and doubts about when the Federal Reserve will next lower interest rates. The Fed, which has already cut rates three times this year, is expected to act again at its mid-May meeting. Many investors would like to see another reduction before then, 

— The Associated Press 

The government’s gross domestic product figures released Thursday showed the economy grew at an annual rate of just 1.0 percent during the last three months of 2000, the weakest performance in more than five years. But the number of new claims for state unemployment insurance fell last week, although the level still suggests employers’ needs have decreased. 

Analysts attributed some of the market’s volatility to professional money managers who have been buying and selling to give their portfolios the best results possible when the fiscal quarter ends Friday. Institutional buyers make up the bulk of trading activity on U.S. stock markets and exchanges. 

Declining issues outnumbered advancers 15 to 14 on the New York Stock Exchange. Consolidated volume came to 1.47 billion shares, compared with 1.53 billion Wednesday. 

The Russell 2000 index slid 0.67 to 441.53. 

Overseas, Japan’s Nikkei stock average tumbled 5.0 percent in reaction to Wednesday’s technology losses in the United States. The declines were less severe in Europe. Germany’s DAX index was down 1.1 percent, Britain’s FT-SE 100 was off 0.5 percent, and France’s CAC-40 slid 0.1 percent. 

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