Investing.com - U.S. stocks opened on Monday, after data showed that U.S. retail sales missed expectations in June, amid growing uncertainty over the future of the Federal Reserve's stimulus program.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.05%, the S&P 500 index eased 0.06%, while the Nasdaq Composite index fell 0.30%.
The Commerce Department said U.S. retail sales rose 0.4% in June, slowing from a 0.5% increase in May and undershooting expectations for a 0.8% increase.
Core retail sales, which exclude automobile sales, were flat last month, compared to expectations for a 0.4% increase.
The data came after Fed Chairman Ben Bernanke said last week that the U.S. economy still needs monetary stimulus. The comments saw investors reassess expectations that the Fed will start to unwind its USD85 billion-a-month bond buying program later this year.
On the upside, Leap Wireless skyrocketed 114.97% following news the provider agreed to be acquired by AT&T for about USD1.2 billion.
Adding to gains, aircraft manufacturer Boeing surged 2.48%, after investigators determined the Friday fire on a 787 Dreamliner at Heathrow Airport was not caused by a battery issue.
Another Boeing 787 Dreamliner operated by Britain's Thomson Airways flying to the U.S. from England had been forced to return to the U.K. due to technical issues.
Among earnings, Citigroup rallied 2.30% after posting profit of USD1.25 per share against estimates of USD1.17. Other U.S. lenders were also trending higher, with JP Morgan edging up 0.09% and Bank of America climbing 0.76%.
Microsoft shares rose 0.31% after the company said it is cutting the price of its Surface RT tablet by as much as 30% as the device struggles to lure customers amid competition from machines such as Apple's iPad.
In the same sector, Apple slipped 025% after the tech giant said it was preparing to "fully investigate and cooperate with authorities" following reports a woman in China died after using an iPhone that was being recharged.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.36%, France’s CAC 40 climbed 0.45%, Germany's DAX added 0.22%, while Britain's FTSE 100 gained 0.46%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.12%, while Japan’s Nikkei 225 Index rose 0.23%.
Also Monday, official data showed that Chinese gross domestic product expanded 7.5% in the second quarter from a year earlier, following growth of 7.7% in the three months to March and in line with expectations.
During early U.S. trade, the Dow Jones Industrial Average edged up 0.05%, the S&P 500 index eased 0.06%, while the Nasdaq Composite index fell 0.30%.
The Commerce Department said U.S. retail sales rose 0.4% in June, slowing from a 0.5% increase in May and undershooting expectations for a 0.8% increase.
Core retail sales, which exclude automobile sales, were flat last month, compared to expectations for a 0.4% increase.
The data came after Fed Chairman Ben Bernanke said last week that the U.S. economy still needs monetary stimulus. The comments saw investors reassess expectations that the Fed will start to unwind its USD85 billion-a-month bond buying program later this year.
On the upside, Leap Wireless skyrocketed 114.97% following news the provider agreed to be acquired by AT&T for about USD1.2 billion.
Adding to gains, aircraft manufacturer Boeing surged 2.48%, after investigators determined the Friday fire on a 787 Dreamliner at Heathrow Airport was not caused by a battery issue.
Another Boeing 787 Dreamliner operated by Britain's Thomson Airways flying to the U.S. from England had been forced to return to the U.K. due to technical issues.
Among earnings, Citigroup rallied 2.30% after posting profit of USD1.25 per share against estimates of USD1.17. Other U.S. lenders were also trending higher, with JP Morgan edging up 0.09% and Bank of America climbing 0.76%.
Microsoft shares rose 0.31% after the company said it is cutting the price of its Surface RT tablet by as much as 30% as the device struggles to lure customers amid competition from machines such as Apple's iPad.
In the same sector, Apple slipped 025% after the tech giant said it was preparing to "fully investigate and cooperate with authorities" following reports a woman in China died after using an iPhone that was being recharged.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.36%, France’s CAC 40 climbed 0.45%, Germany's DAX added 0.22%, while Britain's FTSE 100 gained 0.46%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.12%, while Japan’s Nikkei 225 Index rose 0.23%.
Also Monday, official data showed that Chinese gross domestic product expanded 7.5% in the second quarter from a year earlier, following growth of 7.7% in the three months to March and in line with expectations.