Investing.com - U.S. stocks opened mixed to higher on Friday, after upbeat earnings reports, while as concerns over the economic effects of the recent U.S. government shutdown fuelled speculation the Federal Reserve may not begin to taper its stimulus program in the near future.
During early U.S. trade, the Dow Jones Industrial Average fell 0.22%, the S&P 500 index edged up 0.15%, while the Nasdaq Composite index climbed 0.62%.
Market sentiment found support after official data showed China gross domestic product grew by 7.8% in the third quarter, in line with expectations and up from 7.5% in the three months to June.
The data eased concerns over the strength of the recovery in the world's second-largest economy.
But investors remained cautious amid fears over the impact of the government shutdown on the already fragile economic recovery, which could prompt the Federal Reserve to delay plans for scaling back its stimulus program until at least the start of next year.
The possibility of another debt crisis also loomed, as the temporary debt ceiling agreement reached early Thursday does not resolve the underlying budgetary issues dividing Republicans and Democrats.
Google soared 10.45% after the company reported after the closing bell on Thursday that third-quarter sales beat analysts’ projections.
Also in earnings news, Chipotle Mexican Grill surged 9.07% after saying late Thursday that profit rose 15% in the third quarter.
On the downside, Intuitive Surgical dove 6.04% after the maker of surgical robots said third-quarter revenue dropped more than expected.
Elsewhere, Verizon Communications shares were up 0.78% as Deutsche Bank upgraded the co-owner of the largest U.S. wireless carrier to "buy" from "hold". On Thursday, Verizon reported third-quarter profit that beat analysts’ estimates.
In the financial sector, Morgan Stanley posted better-than-expected earnings, sending its shares up 2.87% at the open of the U.S. trading session.
Separately, JPMorgan Chase, down 0.20%, reportedly agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International, the investment arm of China’s biggest closely held industrial group, for USD725 million.
Other stocks likely to be in focus included Schlumberger and Honeywell, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.35%, France’s CAC 40 gained 0.70%, Germany's DAX added 0.18%, while Britain's FTSE 100 advanced 0.41%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 1.06%, while Japan’s Nikkei 225 Index slipped 0.17%.
During early U.S. trade, the Dow Jones Industrial Average fell 0.22%, the S&P 500 index edged up 0.15%, while the Nasdaq Composite index climbed 0.62%.
Market sentiment found support after official data showed China gross domestic product grew by 7.8% in the third quarter, in line with expectations and up from 7.5% in the three months to June.
The data eased concerns over the strength of the recovery in the world's second-largest economy.
But investors remained cautious amid fears over the impact of the government shutdown on the already fragile economic recovery, which could prompt the Federal Reserve to delay plans for scaling back its stimulus program until at least the start of next year.
The possibility of another debt crisis also loomed, as the temporary debt ceiling agreement reached early Thursday does not resolve the underlying budgetary issues dividing Republicans and Democrats.
Google soared 10.45% after the company reported after the closing bell on Thursday that third-quarter sales beat analysts’ projections.
Also in earnings news, Chipotle Mexican Grill surged 9.07% after saying late Thursday that profit rose 15% in the third quarter.
On the downside, Intuitive Surgical dove 6.04% after the maker of surgical robots said third-quarter revenue dropped more than expected.
Elsewhere, Verizon Communications shares were up 0.78% as Deutsche Bank upgraded the co-owner of the largest U.S. wireless carrier to "buy" from "hold". On Thursday, Verizon reported third-quarter profit that beat analysts’ estimates.
In the financial sector, Morgan Stanley posted better-than-expected earnings, sending its shares up 2.87% at the open of the U.S. trading session.
Separately, JPMorgan Chase, down 0.20%, reportedly agreed to sell 1 Chase Manhattan Plaza, the tower built by David Rockefeller, to Fosun International, the investment arm of China’s biggest closely held industrial group, for USD725 million.
Other stocks likely to be in focus included Schlumberger and Honeywell, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.35%, France’s CAC 40 gained 0.70%, Germany's DAX added 0.18%, while Britain's FTSE 100 advanced 0.41%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 1.06%, while Japan’s Nikkei 225 Index slipped 0.17%.