US: Stocks mostly lower on weak US, eurozone data

[NEW YORK] Wall Street stocks opened mostly lower Friday following disappointing US economic growth and eurozone inflation data.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,388.46, down 28.39 points (0.16 per cent).

The broad-based S&P 500 fell 7.67 (0.38 per cent) to 2,013.58, while the tech-rich Nasdaq Composite Index added 8.79 (0.19 per cent) at 4,692.19.

US economic growth came in at an annual rate of 2.6 per cent in the fourth quarter, according to an estimate from the Commerce Department.

That marked a steep decline from the brisk 5.0 per cent growth in the third quarter. Still, the data showed personal consumption expenditures rose a robust 4.3 per cent.

Analysts also pointed to the drag from a eurozone inflation report, which showed consumer prices fell by a record 0.6 per cent in January, raising fears that deflation is taking hold in the region.

AFP