Investing.com - U.S. stocks stumbled at the open of trade Friday as disappointing global economic data weighed on investor sentiment.
At the open, the Dow Jones Industrials gave back 0.35%, the S&P500 dipped 0.01% and the tech heavy Nasdaq fell 0.39%.
Sparking the bearish equity sentiment, German exports slipped 1.7% in April beating analyst’s expectations of a 0.7% decline.
In addition, Italian output fell 1.9% from a revised 0.6% gain in March. Year over year, production plunged 9.2% supporting global slowdown fears.
China’s industrial output is expected to have grown 10.8%, per economists projections prior to the report, marking the slowest growth in year to date output since November 2009.
Chinese consumer prices are projected to have risen by 3.2% in May, missing the government’s 2012 target of 4%.
Meanwhile, Producer price inflation input in the U.K. fell more-than-expected last month, official data showed on Friday.
In a report, National Statistics said that U.K. PPI input fell to a seasonally adjusted -2.5%, from -1.4% in the preceding month whose figure was revised up from -1.5%.
Analysts had expected U.K. PPI input to fall -1.3% last month.
Bank of America is trading off 2.83% on word that the Fed plans to force banks to hold more reserve capital.
Fast food king, McDonalds declined 1.7% after reporting disappointing same store sales.
Nokia, the cell phone maker, rallied 3.53% on a Samsung takeover rumor.
Apple gave back 0.32% as the iPhone maker seeks legal action to stop the launch of Galaxy S handset.
European markets are trading lower with the STOXX 50 off 0.53%, the FTSE 100 down 0.72% and the DAX lower by 0.71%.
At the open, the Dow Jones Industrials gave back 0.35%, the S&P500 dipped 0.01% and the tech heavy Nasdaq fell 0.39%.
Sparking the bearish equity sentiment, German exports slipped 1.7% in April beating analyst’s expectations of a 0.7% decline.
In addition, Italian output fell 1.9% from a revised 0.6% gain in March. Year over year, production plunged 9.2% supporting global slowdown fears.
China’s industrial output is expected to have grown 10.8%, per economists projections prior to the report, marking the slowest growth in year to date output since November 2009.
Chinese consumer prices are projected to have risen by 3.2% in May, missing the government’s 2012 target of 4%.
Meanwhile, Producer price inflation input in the U.K. fell more-than-expected last month, official data showed on Friday.
In a report, National Statistics said that U.K. PPI input fell to a seasonally adjusted -2.5%, from -1.4% in the preceding month whose figure was revised up from -1.5%.
Analysts had expected U.K. PPI input to fall -1.3% last month.
Bank of America is trading off 2.83% on word that the Fed plans to force banks to hold more reserve capital.
Fast food king, McDonalds declined 1.7% after reporting disappointing same store sales.
Nokia, the cell phone maker, rallied 3.53% on a Samsung takeover rumor.
Apple gave back 0.32% as the iPhone maker seeks legal action to stop the launch of Galaxy S handset.
European markets are trading lower with the STOXX 50 off 0.53%, the FTSE 100 down 0.72% and the DAX lower by 0.71%.