Investing.com - U.S. stocks opened mixed on Thursday, as the release of tepid U.S. data sparked fresh speculation over whether the Federal Reserve will soon announce additional monetary easing to shore up growth.
During early U.S. trade, the Dow Jones Industrial Average fell 0.10%, the S&P 500 index inched up 0.04%, while the Nasdaq Composite index climbed 0.40%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose to 366,000, slightly above expectations for an increase to 365,000.
A separate report showed that the number of building permits issued in the U.S. in July rose 6.8% to 0.812 million, compared to expectations for an increase of 1.2% to 0.770 million.
But housing starts fell by 1.1% in July to a seasonally adjusted 0.746 million last month, compared to expectations for a decline of 0.5% to 0.757 million.
Among earnings, Cisco Systems surged 7.78% after pleasing investors with a 75% dividend hike as the company posted quarterly results that beat estimates. The company offered little hope that dire economic conditions in Europe would come to an end any time soon, however.
Mobile phone maker Nokia saw U.S.-traded shares jump 1.14%, after saying that it will hold a joint media event with Microsoft in New York in September, boosting hopes that it will unveil its Windows smartphone upgrade before Apple presents its next iPhone.
Sears also added to gains, rallying 2.60% after the retailer posted a loss that matched expectations as lower expenses helped offset weaker-than-expected sales.
Meanwhile, the legal battle between Apple and Samsung continued on Thursday, as the iPhone maker introduced into evidence a pair of documents showing that Google pressured Samsung to redesign its Galaxy products because they were too much like Apple’s phones and tablets. Apple shares were up 0.21% in early U.S. trade.
Elsewhere, financial stocks were broadly higher. Shares in Bank of America climbed 0.64% and Citigroup advanced 0.28%, while JP Morgan and Goldman Sachs added 0.30% and 0.16%.
Separately, JP Morgan was reportedly among the seven world banks subpoenaed this week in New York and Connecticut’s investigation into alleged manipulation of Libor. Also involved in the case, Citigroup received a subpoena earlier this year.
On the downside, Facebook saw shares dive 5.40%, as the social media giant freed up 271.1 million of its shares at the open, boosting by 60% the number that can be traded.
Other stocks in focus included apparel retailers Gap and Aeropostale, as well as chipmaker Marvel Tech, slated to report earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.23%, France’s CAC 40 added 0.18%, Germany's DAX edged up 0.19%, while Britain's FTSE 100 fell 0.23%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.45%, while Japan’s Nikkei 225 Index jumped 1.88%.
Later in the day, the U.S. was to publish data on manufacturing activity in the Philadelphia area.
During early U.S. trade, the Dow Jones Industrial Average fell 0.10%, the S&P 500 index inched up 0.04%, while the Nasdaq Composite index climbed 0.40%.
The Department of Labor said the number of people who filed for unemployment assistance in the U.S. last week rose to 366,000, slightly above expectations for an increase to 365,000.
A separate report showed that the number of building permits issued in the U.S. in July rose 6.8% to 0.812 million, compared to expectations for an increase of 1.2% to 0.770 million.
But housing starts fell by 1.1% in July to a seasonally adjusted 0.746 million last month, compared to expectations for a decline of 0.5% to 0.757 million.
Among earnings, Cisco Systems surged 7.78% after pleasing investors with a 75% dividend hike as the company posted quarterly results that beat estimates. The company offered little hope that dire economic conditions in Europe would come to an end any time soon, however.
Mobile phone maker Nokia saw U.S.-traded shares jump 1.14%, after saying that it will hold a joint media event with Microsoft in New York in September, boosting hopes that it will unveil its Windows smartphone upgrade before Apple presents its next iPhone.
Sears also added to gains, rallying 2.60% after the retailer posted a loss that matched expectations as lower expenses helped offset weaker-than-expected sales.
Meanwhile, the legal battle between Apple and Samsung continued on Thursday, as the iPhone maker introduced into evidence a pair of documents showing that Google pressured Samsung to redesign its Galaxy products because they were too much like Apple’s phones and tablets. Apple shares were up 0.21% in early U.S. trade.
Elsewhere, financial stocks were broadly higher. Shares in Bank of America climbed 0.64% and Citigroup advanced 0.28%, while JP Morgan and Goldman Sachs added 0.30% and 0.16%.
Separately, JP Morgan was reportedly among the seven world banks subpoenaed this week in New York and Connecticut’s investigation into alleged manipulation of Libor. Also involved in the case, Citigroup received a subpoena earlier this year.
On the downside, Facebook saw shares dive 5.40%, as the social media giant freed up 271.1 million of its shares at the open, boosting by 60% the number that can be traded.
Other stocks in focus included apparel retailers Gap and Aeropostale, as well as chipmaker Marvel Tech, slated to report earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.23%, France’s CAC 40 added 0.18%, Germany's DAX edged up 0.19%, while Britain's FTSE 100 fell 0.23%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.45%, while Japan’s Nikkei 225 Index jumped 1.88%.
Later in the day, the U.S. was to publish data on manufacturing activity in the Philadelphia area.