Investing.com - U.S. stocks opened lower Friday as the selling continued after Thursday’s disappointing U.S. jobless data, while negative earnings news pressured equity sentiment on the 25th anniversary of the 1987 stock market crash.
At the open of U.S. trade, the Dow Jones Industrial Average fell 0.29%, the S&P 500 index declined 0.24%, while the Nasdaq Composite index dropped 0.28%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 46,000 to a seasonally adjusted 388,000, compared to expectations for an increase to 365,000.
The previous week’s figure was revised up to 342,000 from a previously reported 339,000, which was the lowest reading since February 2008.
Meanwhile, investors remained cautious as European Union leaders gathered for a two-day summit in Brussels, although no major announcements on Spain or Greece were expected.
In earnings news, Microsoft fell 1.6%, General Electric lost 1.3% and McDonald’s gave back 3.2% after missing analyst’s estimates.
Today is the 25th anniversary of the 1987 stock market crash resulting in psychological bearishness.
Meeting on Thursday in Brussels, European leaders made some progress towards establishing a single banking supervisor for the currency bloc, but, as expected, talked little about immediate plans for debt-ridden problem members, Spain and Greece.
Investors are anticipating the outcome of the second day of talks with much speculation of the results.
In the middle of European trade, the EURO STOXX 50 fell 0.53%, France’s CAC 40 gave back 0.53%, while Germany’s DAX 30 eased higher 0.09%.
At the open of U.S. trade, the Dow Jones Industrial Average fell 0.29%, the S&P 500 index declined 0.24%, while the Nasdaq Composite index dropped 0.28%.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits last week rose by 46,000 to a seasonally adjusted 388,000, compared to expectations for an increase to 365,000.
The previous week’s figure was revised up to 342,000 from a previously reported 339,000, which was the lowest reading since February 2008.
Meanwhile, investors remained cautious as European Union leaders gathered for a two-day summit in Brussels, although no major announcements on Spain or Greece were expected.
In earnings news, Microsoft fell 1.6%, General Electric lost 1.3% and McDonald’s gave back 3.2% after missing analyst’s estimates.
Today is the 25th anniversary of the 1987 stock market crash resulting in psychological bearishness.
Meeting on Thursday in Brussels, European leaders made some progress towards establishing a single banking supervisor for the currency bloc, but, as expected, talked little about immediate plans for debt-ridden problem members, Spain and Greece.
Investors are anticipating the outcome of the second day of talks with much speculation of the results.
In the middle of European trade, the EURO STOXX 50 fell 0.53%, France’s CAC 40 gave back 0.53%, while Germany’s DAX 30 eased higher 0.09%.