Investing.com - U.S. stocks opened moderately lower on Wednesday, recovering from record-high levels on Tuesday and after the release of higher than expected U.S. producer price inflation data.
During early U.S. trade, the Dow 30 fall 0.22%, the S&P 500 edged down 0.19%, while the NASDAQ Compositeslid 0.26%.
In a report, the Commerce Department said that producer prices increased by 0.6% last month, above forecasts for a 0.2% gain, after rising 0.5% in March.
Deere & Company (NYSE:DE) cut its full-year revenue outlook, sending shares in the manufacturer of agricultural machinery down 0.80%.
Keurig Green Mountain (NASDAQ:GMCR) added to losses, plummeting 2.54% after Coca-Cola (NYSE:CCE) on Tuesday increased its stake in the company, making it the largest shareholder. Coca-Cola edged down 0.12% at the open of the U.S. trading session.
In the tech sector, Google (NASDAQ:GOOGL) fell 0.29% and Microsoft Corporation (NASDAQ:MSFT) shed 0.32% after the European Union’s top court ruled citizens have a "right to be forgotten" online.
In other words, people will now have the right to ask search-engine owners to remove personal information and request that a court or data-protection authority step in if a company does not comply.
Separately, Google opened sales of its Glass Explorer Edition devices to anyone in the U.S., after mostly being available only via invitation and referral.
Elsewhere, Boeing (NYSE:BA) edged down 0.02% following reports the company will sell 50 737 aircraft worth at least $3.8 billion to a low-cost carrier being set up by China's Juneyao Airlines.
On the upside, Sears Holdings (NASDAQ:SHLD) surged 3.01% after the department-store chain said it was exploring options including a possible sale for its stake in Sears Canada.
Other stocks likely to be in focus included SodaStream (NASDAQ:SODA), Cisco Systems (NASDAQ:CSCO) and Seaworld (NYSE:SEAS), scheduled to report quarterly results.
Across the Atlantic, European stock markets were little changed. The DJ Euro Stoxx 50 eased 0.01%, France’s CAC 40 inched 0.04% lower, Germany's DAX slipped 0.09%, while Britain's FTSE 100 dipped 0.06%.
During the Asian trading session, Hong Kong's Hang Seng jumped 1.03%, while Japan’s Nikkei 225 fell 0.14%.