Investing.com - U.S. stocks opened lower on Thursday, after the Federal Reserve was less dovish than anticipated in its assessment of the economy, sparking expectations for it to start scaling back stimulus sooner than expected.
During early U.S. trade, the Dow Jones Industrial Average fell 0.12%, the S&P 500 index edged down 0.07%, while the Nasdaq Composite index slipped 0.24%.
Global equities came under pressure after the Fed left its USD85 billion-a-month asset purchase program in place following its monthly meeting on Wednesday. The bank gave no clear indication whether it would start scaling back stimulus at the December meeting or continue it into the start of 2014.
"The housing sector has slowed somewhat in recent months," the Fed statement said. However, Fed officials stuck to the view that the economy is expanding "at a moderate pace" and said downside risks were diminishing.
Investors shrugged off data showing that U.S. initial jobless claims fell in line with expectations last week. The Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 25 declined by 10,000 to a seasonally adjusted 340,000.
Starbucks Corp. plummeted 2.75% after the world’s largest coffee-shop chain said late Wednesday that sales at stores open at least 13 months rose 8% in its China and Asia Pacific region in the fiscal fourth quarter, less than analysts' estimates.
Adding to losses, Visa Inc. plunged 3.12% after the bank-card network said revenue rose less than projected.
Facebook saw shares dive 3.65%, even after posting earnings that exceeded market estimates.
Separately, the social media giant's Chief Financial Officer David Ebersman said the company will limit news-feed ads and younger teens aren’t using its website as much as they used to.
On the upside, Exxon Mobil rallied 1.17% after the oil company reported a drop in quarterly profit that still beat market expectations.
Other stocks likely to be in focus included MasterCard, Avon Products, Discovery Communication and Time Warner Cable, all scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.31%, France’s CAC 40 added 0.29%, Germany's DAX dipped 0.05%, while Britain's FTSE 100 declined 0.58%.
During the Asian trading session, Hong Kong's Hang Seng Index retreated 0.42%, while Japan’s Nikkei 225 Index tumbled 1.20%.
Later in the day, the U.S. was to release data a report on manufacturing activity in the Chicago region.
During early U.S. trade, the Dow Jones Industrial Average fell 0.12%, the S&P 500 index edged down 0.07%, while the Nasdaq Composite index slipped 0.24%.
Global equities came under pressure after the Fed left its USD85 billion-a-month asset purchase program in place following its monthly meeting on Wednesday. The bank gave no clear indication whether it would start scaling back stimulus at the December meeting or continue it into the start of 2014.
"The housing sector has slowed somewhat in recent months," the Fed statement said. However, Fed officials stuck to the view that the economy is expanding "at a moderate pace" and said downside risks were diminishing.
Investors shrugged off data showing that U.S. initial jobless claims fell in line with expectations last week. The Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 25 declined by 10,000 to a seasonally adjusted 340,000.
Starbucks Corp. plummeted 2.75% after the world’s largest coffee-shop chain said late Wednesday that sales at stores open at least 13 months rose 8% in its China and Asia Pacific region in the fiscal fourth quarter, less than analysts' estimates.
Adding to losses, Visa Inc. plunged 3.12% after the bank-card network said revenue rose less than projected.
Facebook saw shares dive 3.65%, even after posting earnings that exceeded market estimates.
Separately, the social media giant's Chief Financial Officer David Ebersman said the company will limit news-feed ads and younger teens aren’t using its website as much as they used to.
On the upside, Exxon Mobil rallied 1.17% after the oil company reported a drop in quarterly profit that still beat market expectations.
Other stocks likely to be in focus included MasterCard, Avon Products, Discovery Communication and Time Warner Cable, all scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 rose 0.31%, France’s CAC 40 added 0.29%, Germany's DAX dipped 0.05%, while Britain's FTSE 100 declined 0.58%.
During the Asian trading session, Hong Kong's Hang Seng Index retreated 0.42%, while Japan’s Nikkei 225 Index tumbled 1.20%.
Later in the day, the U.S. was to release data a report on manufacturing activity in the Chicago region.