You are here

US: Stocks mostly lower after tepid retail data, earnings

NYSEREUTERS0606.jpg

[NEW YORK] Wall Street stocks opened mostly lower Wednesday after a lacklustre US retail sales report and disappointing earnings from banking giant JPMorgan Chase.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,049.08, down 32.81 points (0.19 per cent).

The broad-based S&P 500 dipped 2.21 (0.11 per cent) to 2,001.48, while the tech-rich Nasdaq Composite Index added 1.83 (0.04 per cent) at 4,798.44.

The Commerce Department reported US retail sales for September rose just 0.1 per cent from August, half the increase expected by analysts.

Dow member JPMorgan Chase fell 1.7 per cent as its third-quarter earnings came in at US$1.32 per share, five cents below analyst expectations.

AFP