Investing.com - U.S. stocks opened lower on Thursday, after disappointing U.S. jobless data, while concerns over the outlook for global economic growth continued to weigh.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.03%, the S&P 500 index eased 0.04%, while the Nasdaq Composite index fell 0.16%.
The Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 4,000 to a seasonally adjusted 352,000, compared to expectations for an increase of 2,000 to 350,000.
Jobless claims for the preceding week were revised up to 348,000 from a previously reported increase of 346,000.
Meanwhile, investors remained cautious after the International Monetary Fund said continued monetary stimulus by the Federal Reserve and the Bank of Japan was expected to continue to support growth in the U.S. and Japan, while the euro zone still posed the greatest threat to a recovery in the global economy.
Apple dropped 0.45% after one of the company's key suppliers, chipmaker Cirrus Logic, gave a disappointing revenue forecast on Wednesday, fueling worries about weakening demand for the iPhone and iPad.
Among earnings, UnitedHealth plummeted 4.32%, even as it edged past earnings expectations, but said that a major public-sector customer had switched to a fee-based insurance service from a full-risk plan in the first quarter and lowered its 2013 sales guidance.
Adding to losses, Morgan Stanley tumbled 1.68% after reporting quarterly results that topped expectations, thanks to strong gains in its global wealth management and securities units.
Other U.S. lenders also trended broadly lower, as shares in JP Morgan edged down 0.09% and Citigroup slid 0.59%, while Goldman Sachs and Bank of America retreated 1.05% and 1.45% respectively.
On the upside, PepsiCo surged 5.04% after the beverage company posted better-than-expected quarterly earnings and revenue. The company also maintained its full-year forecast.
Other stocks in focus included results includedGoogle, Microsoft and IBM, due to report earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.51%, France’s CAC 40 advanced 0.43%, Germany's DAX inched up 0.08%, while Britain's FTSE 100 added 0.16%.
During the Asian trading session, Hong Kong's Hang Seng Index slipped 0.29%, while Japan’s Nikkei 225 Index tumbled 1.22%.
The U.S. was to release the Philly Fed manufacturing index later in the trading day.
During early U.S. trade, the Dow Jones Industrial Average slipped 0.03%, the S&P 500 index eased 0.04%, while the Nasdaq Composite index fell 0.16%.
The Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 4,000 to a seasonally adjusted 352,000, compared to expectations for an increase of 2,000 to 350,000.
Jobless claims for the preceding week were revised up to 348,000 from a previously reported increase of 346,000.
Meanwhile, investors remained cautious after the International Monetary Fund said continued monetary stimulus by the Federal Reserve and the Bank of Japan was expected to continue to support growth in the U.S. and Japan, while the euro zone still posed the greatest threat to a recovery in the global economy.
Apple dropped 0.45% after one of the company's key suppliers, chipmaker Cirrus Logic, gave a disappointing revenue forecast on Wednesday, fueling worries about weakening demand for the iPhone and iPad.
Among earnings, UnitedHealth plummeted 4.32%, even as it edged past earnings expectations, but said that a major public-sector customer had switched to a fee-based insurance service from a full-risk plan in the first quarter and lowered its 2013 sales guidance.
Adding to losses, Morgan Stanley tumbled 1.68% after reporting quarterly results that topped expectations, thanks to strong gains in its global wealth management and securities units.
Other U.S. lenders also trended broadly lower, as shares in JP Morgan edged down 0.09% and Citigroup slid 0.59%, while Goldman Sachs and Bank of America retreated 1.05% and 1.45% respectively.
On the upside, PepsiCo surged 5.04% after the beverage company posted better-than-expected quarterly earnings and revenue. The company also maintained its full-year forecast.
Other stocks in focus included results includedGoogle, Microsoft and IBM, due to report earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.51%, France’s CAC 40 advanced 0.43%, Germany's DAX inched up 0.08%, while Britain's FTSE 100 added 0.16%.
During the Asian trading session, Hong Kong's Hang Seng Index slipped 0.29%, while Japan’s Nikkei 225 Index tumbled 1.22%.
The U.S. was to release the Philly Fed manufacturing index later in the trading day.