TMCnet News
U.S. stocks open lower after upbeat data; Dow Jones down 0.66% [Forexpros](Forexpros Via Acquire Media NewsEdge) Investing.com - Investing.com - U.S. stocks opened lower on Friday, as the release of upbeat U.S. durable goods orders data added to optimism over the country's economic recovery, fuelling further speculation over the timing of a possible rate hike by the Federal Reserve. During early U.S. trade, the Dow 30 retreated 0.66%, the S&P 500 dropped 0.47%, while the NASDAQ Composite declined 0.72%. Official data showed that U.S. durable goods orders rose 0.7% last month, beating expectations for a 0.5% gain, after a decline of 1% in May, whose figure was revised from a previously estimated 0.9% fall. Core durable goods orders, which exclude transportation items, advanced by 0.8% in June, compared to expectations for a 0.6% rise, after a 0.1% downtick in May, whose figure was revised from a previously estimated flat reading. The data came after a report on Thursday showing that U.S. jobless claims fell to the lowest level in more than eight years last week. Amazon.com (NASDAQ:AMZN) saw shares dive 12.02% after the online retailer missed analysts's estimates for a second straight quarter. Also in earnings news, Visa (NYSE:V) reduced its revenue forecast for the rest of the fiscal year, sending shares in the world's largest payments network down 4.21%. On the upside, Ford Motor (NYSE:F) added 0.17% after the automaker said second quarter net income rose to $1.3 billion, compared to $1.23 billion a year earlier. Elsewhere, Starbucks (NASDAQ:SBUX) plummeted 2.92% amid concerns the coffee-shop chain's plans to open more stores and escalating ingredient prices could weigh on profit growth. Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 declined 0.73%, France's CAC 40 tumbled 1.07%, Germany's DAX dropped 0.72%, while Britain's FTSE 100 slipped 0.23%. During the Asian trading session, Hong Kong's Hang Seng rose 0.31%, while Japan's Nikkei 225 jumped 1.13%. Investing.com offers an extensive set of professional tools for the financial markets. Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android! (c) 2014 Fusion Media Limited. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info). |