Investing.com - U.S. stocks opened lower on Friday, as the release of positive U.S. manufacturing and consumer sentiment data fuelled fresh expectations for the Federal Reserve to scale down its bond-buying program in the near future.
During early U.S. trade, the Dow Jones Industrial Average edged down 0.15%, the S&P 500 index fell 0.25%, while the Nasdaq Composite index slipped 0.10%.
Revised data showed that the University of Michigan's consumer sentiment index rose to 84.5 in May, from a reading of 83.7 the previous month. Analysts had expected the index to remain unchanged this month.
A separate report showed that the Chicago purchasing managers' index climbed to 58.7 this month, from a reading of 49.0 in April, beating expectations for a rise to 50.0.
The reports came after official data showed that U.S. personal spending fell 0.2% in April, confounding expectations for a 0.1% rise, after a 0.1% increase the previous month.
Costco Wholesale slid 0.34% after the consumer goods company reported third-quarter earnings that beat expectations by a penny, though sales were below forecasts.
Among tech stocks, Avago Technologies dropped 0.56%, even as it forecast current-quarter revenue largely above expectations.
Data storage equipment maker EMC Corp fell 0.24% after instituting a quarterly dividend and increasing its stock buyback program to USD6 billion from USD1 billion.
In the same sector, Dell climbed 0.57% as shareholders sued founder Michael Dell, the company’s board and private-equity partners over his bid to take the computer maker private.
Adding to gains, Lions Gate Entertainment surged 4.96% after the maker of the “Twilight” teen-vampire movies reported fourth-quarter results that topped analysts’ estimates.
Meanwhile, financial stocks were mixed, as shares in Goldman Sachs added 0.28% and Bank of America gained 0.36%, while JP Morgan and Citigroup fell 0.28% and 0.35% respectively.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.69%, France’s CAC 40 declined 0.72%, Germany's DAX retreated 0.41%, while Britain's FTSE 100 slumped 0.69%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.41%, while Japan’s Nikkei 225 Index gained 0.49%.
During early U.S. trade, the Dow Jones Industrial Average edged down 0.15%, the S&P 500 index fell 0.25%, while the Nasdaq Composite index slipped 0.10%.
Revised data showed that the University of Michigan's consumer sentiment index rose to 84.5 in May, from a reading of 83.7 the previous month. Analysts had expected the index to remain unchanged this month.
A separate report showed that the Chicago purchasing managers' index climbed to 58.7 this month, from a reading of 49.0 in April, beating expectations for a rise to 50.0.
The reports came after official data showed that U.S. personal spending fell 0.2% in April, confounding expectations for a 0.1% rise, after a 0.1% increase the previous month.
Costco Wholesale slid 0.34% after the consumer goods company reported third-quarter earnings that beat expectations by a penny, though sales were below forecasts.
Among tech stocks, Avago Technologies dropped 0.56%, even as it forecast current-quarter revenue largely above expectations.
Data storage equipment maker EMC Corp fell 0.24% after instituting a quarterly dividend and increasing its stock buyback program to USD6 billion from USD1 billion.
In the same sector, Dell climbed 0.57% as shareholders sued founder Michael Dell, the company’s board and private-equity partners over his bid to take the computer maker private.
Adding to gains, Lions Gate Entertainment surged 4.96% after the maker of the “Twilight” teen-vampire movies reported fourth-quarter results that topped analysts’ estimates.
Meanwhile, financial stocks were mixed, as shares in Goldman Sachs added 0.28% and Bank of America gained 0.36%, while JP Morgan and Citigroup fell 0.28% and 0.35% respectively.
Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slid 0.69%, France’s CAC 40 declined 0.72%, Germany's DAX retreated 0.41%, while Britain's FTSE 100 slumped 0.69%.
During the Asian trading session, Hong Kong's Hang Seng Index dropped 0.41%, while Japan’s Nikkei 225 Index gained 0.49%.