US: Stocks dip on mixed data

[NEW YORK] Wall Street stocks dipped in opening trade on Thursday following mixed US economic data.

Five minutes into trade, the Dow Jones Industrial Average was at 18,198.35, down 26.22 points (0.14 per cent).

The broad-based S&P 500 shed 3.20 (0.15 per cent) to 2,110.66, while the tech-rich Nasdaq Composite Index lost 1.79 (0.04 per cent) to 4,965.34.

Orders for US durable goods rose 2.8 per cent in January, the Commerce Department said, marking the first rise in three months.

However, labour department data showed initial jobless claims increased by 31,000 to 313,000 in the week ending February 21.

Consumer prices fell 0.7 per cent in January from the prior month, as plunging gasoline prices kept a lid on inflation.

"Overall, we'd characterize today's economic data as mixed," said Briefing.com analyst Patrick O'Hare. "As such, it could contribute to market action that looks otherwise indecisive."

AFP