Investing.com - U.S. stocks opened mixed in subdued trade on Monday, as Friday's upbeat U.S. employment data continued to support sentiment, but markets were jittery amid sustained euro zone growth concerns.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.13%, the S&P 500 index inched up 0.04%, while the Nasdaq Composite index rose 0.28%.
Stocks remained supported after data on Friday showed that the U.S. economy added 165,000 jobs in April, above expectations for an increase of 145,000, while job increases for the previous month were revised up to 138,000.
The U.S. unemployment rate unexpectedly fell to a four-month low of 7.5% from 7.6% in March.
But investors were cautious after the European Commission revised down euro zone growth forecasts on Friday, saying it now expects the bloc’s economy to contract by 0.4% this year, more than the 0.3% decline it predicted previously.
General Motors saw shares slide 0.62% after the automaker said it is planning to invest about USD16 billion on U.S. factories and facilities through 2016, more than it will spend in China.
Adding to losses, BMC Software slipped 0.12% amid reports is in advanced talks to be taken private by Bain Capital LLC and Golden Gate Capital for less than USD48 a share.
On the upside, Apple shares jumped 1.82% as the iPhone maker reportedly avoided as much as USD9.2 billion in taxes by financing part of a USD55 billion stock buyback with debt rather than offshore cash that would have been billed by the U.S. government.
Financial stocks were also broadly higher, as JP Morgan added 0.23% and Citigroup gained 0.53%, while Goldman Sachs and Bank of America rallied 0.98% and 1.96% respectively.
JP Morgan was expected to name an independent chairman and oust three directors, adding pressure on the U.S. lender to overhaul its corporate governance after a USD6.2 billion trading loss.
Among earnings, Berkshire Hathaway surged 2.36% following the company's high profile annual meeting in Omaha over the weekend. The company also post earnings and revenue that beat expectations late Friday.
Tyson Foods plummeted 3.45% on the other hand, after the meat processor posted weaker-than-expected earnings and slashed its full-year revenue estimates.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.39%, France’s CAC 40 edged down 0.11%, Germany's DAX dipped 0.02%, while Britain's FTSE 100 remained closed for a national holiday.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 0.99%, while Japan’s Nikkei 225 Index was closed for a national holiday.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.13%, the S&P 500 index inched up 0.04%, while the Nasdaq Composite index rose 0.28%.
Stocks remained supported after data on Friday showed that the U.S. economy added 165,000 jobs in April, above expectations for an increase of 145,000, while job increases for the previous month were revised up to 138,000.
The U.S. unemployment rate unexpectedly fell to a four-month low of 7.5% from 7.6% in March.
But investors were cautious after the European Commission revised down euro zone growth forecasts on Friday, saying it now expects the bloc’s economy to contract by 0.4% this year, more than the 0.3% decline it predicted previously.
General Motors saw shares slide 0.62% after the automaker said it is planning to invest about USD16 billion on U.S. factories and facilities through 2016, more than it will spend in China.
Adding to losses, BMC Software slipped 0.12% amid reports is in advanced talks to be taken private by Bain Capital LLC and Golden Gate Capital for less than USD48 a share.
On the upside, Apple shares jumped 1.82% as the iPhone maker reportedly avoided as much as USD9.2 billion in taxes by financing part of a USD55 billion stock buyback with debt rather than offshore cash that would have been billed by the U.S. government.
Financial stocks were also broadly higher, as JP Morgan added 0.23% and Citigroup gained 0.53%, while Goldman Sachs and Bank of America rallied 0.98% and 1.96% respectively.
JP Morgan was expected to name an independent chairman and oust three directors, adding pressure on the U.S. lender to overhaul its corporate governance after a USD6.2 billion trading loss.
Among earnings, Berkshire Hathaway surged 2.36% following the company's high profile annual meeting in Omaha over the weekend. The company also post earnings and revenue that beat expectations late Friday.
Tyson Foods plummeted 3.45% on the other hand, after the meat processor posted weaker-than-expected earnings and slashed its full-year revenue estimates.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.39%, France’s CAC 40 edged down 0.11%, Germany's DAX dipped 0.02%, while Britain's FTSE 100 remained closed for a national holiday.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 0.99%, while Japan’s Nikkei 225 Index was closed for a national holiday.