US open: Stocks mixed as earnings remain in focus
Major indices were mixed early on Friday as a week of earnings gets set to draw to a close.
As of 1515 BST, the Dow Jones Industrial Average was up 0.05% at 33,803.28, while the S&P 500 slipped 0.10% to 4,125.82 and the Nasdaq Composite came out the gate 0.32% weaker at 12,020.63.
The Dow opened 16.66 points higher on Friday, doing little to reverse gains recorded in the previous session as data revealed jobless claims had risen more than expected to 245,000 and that manufacturing activity in the Philadelphia region had contracted even further than originally thought.
On the macro front for Friday, economic activity in the US reaccelerated unexpectedly in April, according to the results of two surveys. S&P Global's composite output index for both manufacturing and services improved from a reading of 52.3 in March to 53.5 in April - an 11-month high. The PMI for services improved from 52.6 to 53.7, while the PMI for factory activity rose from 49.2 to 50.4 - ahead of consensus estimates of 51.5 and 48.0, respectively.
Still to come, Federal Reserve governor Lisa Cook will deliver a speech at 2135 BST.
In the corporate space, consumer goods manufacturer Procter & Gamble beat estimates on both the top and bottom lines on Friday thanks to price hikes, leading it to raise its full-year sales forecasts.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Procter & Gamble Co. (PG) $157.00 4.07%
Merck & Co. Inc. (MRK) $115.21 0.91%
Home Depot Inc. (HD) $301.11 0.85%
Walmart Inc. (WMT) $151.88 0.60%
Johnson & Johnson (JNJ) $164.25 0.41%
3M Co. (MMM) $105.01 0.27%
Unitedhealth Group Inc. (UNH) $488.32 0.18%
Visa Inc. (V) $234.96 0.15%
American Express Co. (AXP) $163.47 0.12%
Salesforce.Com Inc. (CRM) $197.63 0.06%
Dow Jones - Fallers
Intel Corp. (INTC) $30.35 -1.65%
Caterpillar Inc. (CAT) $219.50 -1.25%
Dow Chemical Co. (DOW) $55.07 -1.13%
Apple Inc. (AAPL) $165.18 -0.88%
JP Morgan Chase & Co. (JPM) $139.79 -0.72%
Walgreens Boots Alliance, Inc. (WBA) $35.14 -0.65%
Microsoft Corp. (MSFT) $284.30 -0.63%
Nike Inc. (NKE) $124.13 -0.26%
Cisco Systems Inc. (CSCO) $46.47 -0.24%
Boeing Co. (BA) $206.79 -0.21%
S&P 500 - Risers
Procter & Gamble Co. (PG) $156.60 4.07%
CSX Corp. (CSX) $31.81 3.25%
Universal Health Services Inc. (UHS) $140.72 3.12%
AT&T Inc. (T) $18.15 2.83%
DaVita Inc (DVA) $85.16 2.42%
CenturyLink Inc. (LUMN) $2.21 1.96%
Amazon.Com Inc. (AMZN) $105.64 1.76%
Eli Lilly and Company (LLY) $380.41 1.59%
AES Corp. (AES) $24.21 1.49%
Kimberly-Clark Corp. (KMB) $141.05 1.45%
S&P 500 - Fallers
Freeport-McMoRan Inc (FCX) $39.48 -4.55%
Albemarle Corp. (ALB) $185.62 -3.85%
Schlumberger Ltd. (SLB) $50.05 -3.69%
Nektar Therapeutics (NKTR) $0.83 -3.59%
Regions Financial Corp. (RF) $18.31 -3.07%
Expedia Group Inc. (EXPE) $91.63 -2.55%
Mosaic Company (MOS) $43.68 -2.54%
Seagate Technology Plc (STX) $55.50 -2.49%
Carnival Corp. (CCL) $9.11 -2.36%
US Bancorp (USB) $33.97 -2.28%
Nasdaq 100 - Risers
CSX Corp. (CSX) $31.79 3.18%
Amazon.Com Inc. (AMZN) $105.39 1.52%
Vertex Pharmaceuticals Inc. (VRTX) $333.80 1.41%
Henry Schein Inc. (HSIC) $84.10 1.31%
Gilead Sciences Inc. (GILD) $85.61 1.09%
Dollar Tree Inc (DLTR) $150.72 0.58%
Regeneron Pharmaceuticals Inc. (REGN) $802.33 0.53%
DENTSPLY Sirona Inc. (XRAY) $41.06 0.53%
Electronic Arts Inc. (EA) $129.42 0.48%
Mondelez International Inc. (MDLZ) $71.32 0.41%
Nasdaq 100 - Fallers
Qurate Retail Inc. (QRTEA) $0.72 -5.21%
Seagate Technology Plc (STX) $55.50 -2.77%
Trip.com Group Limited (TCOM) $36.01 -2.58%
Expedia Group Inc. (EXPE) $91.63 -2.55%
JD.com, Inc. (JD) $35.34 -2.35%
Lam Research Corp. (LRCX) $515.27 -2.14%
Intel Corp. (INTC) $30.31 -1.80%
Applied Materials Inc. (AMAT) $112.34 -1.79%
Skyworks Solutions Inc. (SWKS) $106.62 -1.71%
Baidu Inc. (BIDU) $125.26 -1.71%