Investing.com - U.S. stocks opened slightly lower on Friday, even as U.S. lawmakers seemed to be moving closer to a budget deal before the debt ceiling deadling is reached next week.
During early U.S. trade, the Dow Jones Industrial Average dipped 0.02%, the S&P 500 index fell 0.10%, while the Nasdaq Composite index edged down 0.09%.
Hopes for progress on the U.S. budget front lifted sentiment after Republicans on Thursday offered to extend the government's borrowing authority for several weeks, temporarily putting off a default, while Obama was pushing to also reopen government operations that have been closed since October 1.
No deal emerged after a 90-minute meeting between President Barack Obama and Republican leaders, but talks continued into the night.
U.S. Treasury Secretary Jack Lew reiterated Thursday that the U.S. will reach its debt ceiling on October 17 and warned that the political crisis is starting to hurt the economy. The comments came during testimony to the Senate finance committee.
Google shares slipped 0.20% after the Financial Times reported late Thursday that the company funneled USD12 billion of royalty payments to Bermuda last year, a quarter more than in 2011.
In earnings news, JPMorgan Chaset topped market expectations, but still posted a quarterly loss due to legal expenses. Shares rallied 1.33% following the report.
On the downside, Wells Fargo plummeted 1.91% despite quarterly earnings that hit a record as loans and deposits surged in the three months to September.
Micron, the largest U.S. maker of memory chips reported fiscal fourth-quarter sales that exceeded market expectations. However, Wells Fargo & Co. lowered its recommendation on the stock to "underperform" from "market perform", sending shares down 4.23%.
Adding to losses, Time Warner Cable fell 0.29% after it and Univision Communications, a media group that caters to Hispanic Americans, agreed to extend their partnership and deliver more content to Time Warner subscribers.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.21%, France’s CAC 40 inched up 0.02%, Germany's DAX rose 0.37%, while Britain's FTSE 100 gained 0.74%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.16%, while Japan’s Nikkei 225 Index rallied 1.48%.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.
During early U.S. trade, the Dow Jones Industrial Average dipped 0.02%, the S&P 500 index fell 0.10%, while the Nasdaq Composite index edged down 0.09%.
Hopes for progress on the U.S. budget front lifted sentiment after Republicans on Thursday offered to extend the government's borrowing authority for several weeks, temporarily putting off a default, while Obama was pushing to also reopen government operations that have been closed since October 1.
No deal emerged after a 90-minute meeting between President Barack Obama and Republican leaders, but talks continued into the night.
U.S. Treasury Secretary Jack Lew reiterated Thursday that the U.S. will reach its debt ceiling on October 17 and warned that the political crisis is starting to hurt the economy. The comments came during testimony to the Senate finance committee.
Google shares slipped 0.20% after the Financial Times reported late Thursday that the company funneled USD12 billion of royalty payments to Bermuda last year, a quarter more than in 2011.
In earnings news, JPMorgan Chaset topped market expectations, but still posted a quarterly loss due to legal expenses. Shares rallied 1.33% following the report.
On the downside, Wells Fargo plummeted 1.91% despite quarterly earnings that hit a record as loans and deposits surged in the three months to September.
Micron, the largest U.S. maker of memory chips reported fiscal fourth-quarter sales that exceeded market expectations. However, Wells Fargo & Co. lowered its recommendation on the stock to "underperform" from "market perform", sending shares down 4.23%.
Adding to losses, Time Warner Cable fell 0.29% after it and Univision Communications, a media group that caters to Hispanic Americans, agreed to extend their partnership and deliver more content to Time Warner subscribers.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.21%, France’s CAC 40 inched up 0.02%, Germany's DAX rose 0.37%, while Britain's FTSE 100 gained 0.74%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.16%, while Japan’s Nikkei 225 Index rallied 1.48%.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.