Investing.com - U.S. stocks opened mixed to lower on Friday, after data showed tha the U.S. economy grew less-than-expected in the last quarter, while investors processed a string of fresh earnings reports.
During early U.S. trade, the Dow Jones Industrial Average inched 0.01% lower, the S&P 500 index slipped 0.15%, while the Nasdaq Composite index edged down 0.17%.
In a preliminary report, the Bureau of Economic Analysis said that U.S. gross domestic product rose 2.5% in the first quarter, less than the expected 3.0% increase, after a 0.4% rise in the previous quarter.
Among earnings, Chevron reported earnings that beat expectations, but revenue suffered amid falling oil prices and lower refinery input. Shares still climbed 0.68% at the open of the U.S. trading session.
On the downside, Amazon.com plummeted 3.38% after the online retailer posted higher-than-expected earnings but forecast weak sales in the current quarter.
Starbucks retreated 0.89% after the coffeehouse giant posted revenue that fell slightly short of estimates and announced a weaker-than-expected current-quarter and fourth-quarter earnings guidance.
In the tech sector, Apple added 0.19% after Korean rival Samsung Electronics said sales of its phones jumped in the first quarter to account for one third of the global market.
Separately, Microsoft slid 0.25% after coming out on top in the first of two patent trials versus Google's Motorola Mobility unit on Thursday, as a federal judge in Seattle ruled largely in its favor.
Among financial stocks, Goldman Sachs declined 0.51% and JP Morgan retreated 0.59%, while Citigroup and Bank of America tumbled 0.85% and 1.05% respectively.
Elsewhere, JCPenney surged 6.10% after billionaire investor George Soros disclosed a 7.9% stake in the retailer.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.95%, France’s CAC 40 retreated 0.80%, Germany's DAX declined 0.47%, while Britain's FTSE 100 slid 0.59%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.65%, while Japan’s Nikkei 225 Index slid 0.3%.
Later in the day, the University of Michigan was to produce revised data on consumer sentiment and inflation expectations.
During early U.S. trade, the Dow Jones Industrial Average inched 0.01% lower, the S&P 500 index slipped 0.15%, while the Nasdaq Composite index edged down 0.17%.
In a preliminary report, the Bureau of Economic Analysis said that U.S. gross domestic product rose 2.5% in the first quarter, less than the expected 3.0% increase, after a 0.4% rise in the previous quarter.
Among earnings, Chevron reported earnings that beat expectations, but revenue suffered amid falling oil prices and lower refinery input. Shares still climbed 0.68% at the open of the U.S. trading session.
On the downside, Amazon.com plummeted 3.38% after the online retailer posted higher-than-expected earnings but forecast weak sales in the current quarter.
Starbucks retreated 0.89% after the coffeehouse giant posted revenue that fell slightly short of estimates and announced a weaker-than-expected current-quarter and fourth-quarter earnings guidance.
In the tech sector, Apple added 0.19% after Korean rival Samsung Electronics said sales of its phones jumped in the first quarter to account for one third of the global market.
Separately, Microsoft slid 0.25% after coming out on top in the first of two patent trials versus Google's Motorola Mobility unit on Thursday, as a federal judge in Seattle ruled largely in its favor.
Among financial stocks, Goldman Sachs declined 0.51% and JP Morgan retreated 0.59%, while Citigroup and Bank of America tumbled 0.85% and 1.05% respectively.
Elsewhere, JCPenney surged 6.10% after billionaire investor George Soros disclosed a 7.9% stake in the retailer.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.95%, France’s CAC 40 retreated 0.80%, Germany's DAX declined 0.47%, while Britain's FTSE 100 slid 0.59%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.65%, while Japan’s Nikkei 225 Index slid 0.3%.
Later in the day, the University of Michigan was to produce revised data on consumer sentiment and inflation expectations.