Investing.com - U.S. stocks opened lower on Monday, as investors were locking in gains after the previous week's rally in U.S. equities, although losses were limited by official data showing that U.S. retail sales rose unexpectedly in April.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.26%, the S&P 500 index edged down 0.21%, while the Nasdaq Composite index dipped 0.05%.
The Commerce Department said U.S. retail sales rose 0.1% in April, confounding expectations for a 0.3% decline. The previous months figure was revised down to 0.5% for 0.4%.
Core retail sales, which exclude automobile sales, fell by 0.1% last month, in line with expectations.
Dell slid 0.27% as activist investor Carl Icahn continued to push forward in an attempt to take over the company and overtake a move from Chairman Michael Dell to take the company private.
U.S.-traded BT Group shares tumbled 1.89% was likely after soaring over 11% on Friday thanks to fourth-quarter profit that beat analysts’ estimates.
In the financial sector, stocks were also broadly lower. JP Morgan edged down 0.10% and Bank of America slipped 0.23%, while Citigroup and Goldman Sachs dropped 0.53% and 0.48% respectively.
On the upside, Hess Corp climbed 0.56% as chief executive John Hess, son of the company's founder, is being stripped of his duties as chairman, as the oil and gas company scrambles to avoid an embarrassing defeat by an activist investor.
Adding to gains, Chesapeake Energy advanced 0.40% amid reports Bank of New York Mellon was appealing a ruling allowing the oil company to proceed on Monday with redeeming USD1.3 billion in bonds six years early.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.40%, France’s CAC 40 slipped 0.27%, Germany's DAX edged down 0.12%, while Britain's FTSE 100 eased 0.06%.
During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.42%, while Japan’s Nikkei 225 Index jumped 1.2%.
Also Monday, official data showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.26%, the S&P 500 index edged down 0.21%, while the Nasdaq Composite index dipped 0.05%.
The Commerce Department said U.S. retail sales rose 0.1% in April, confounding expectations for a 0.3% decline. The previous months figure was revised down to 0.5% for 0.4%.
Core retail sales, which exclude automobile sales, fell by 0.1% last month, in line with expectations.
Dell slid 0.27% as activist investor Carl Icahn continued to push forward in an attempt to take over the company and overtake a move from Chairman Michael Dell to take the company private.
U.S.-traded BT Group shares tumbled 1.89% was likely after soaring over 11% on Friday thanks to fourth-quarter profit that beat analysts’ estimates.
In the financial sector, stocks were also broadly lower. JP Morgan edged down 0.10% and Bank of America slipped 0.23%, while Citigroup and Goldman Sachs dropped 0.53% and 0.48% respectively.
On the upside, Hess Corp climbed 0.56% as chief executive John Hess, son of the company's founder, is being stripped of his duties as chairman, as the oil and gas company scrambles to avoid an embarrassing defeat by an activist investor.
Adding to gains, Chesapeake Energy advanced 0.40% amid reports Bank of New York Mellon was appealing a ruling allowing the oil company to proceed on Monday with redeeming USD1.3 billion in bonds six years early.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.40%, France’s CAC 40 slipped 0.27%, Germany's DAX edged down 0.12%, while Britain's FTSE 100 eased 0.06%.
During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.42%, while Japan’s Nikkei 225 Index jumped 1.2%.
Also Monday, official data showed that industrial production in China rose 9.3% in April, below expectations for a 9.5% increase and following an 8.9% rise the previous month.
The weaker-than-expected data fuelled concerns that China’s economic recovery was stalling.