U.S. stocks open lower ahead of ISM data; Dow Jones down 0.35%
Investing.com
Published Aug 05, 2013 09:45AM ET
During early U.S. trade, the Dow Jones Industrial Average slid 0.35%, the S&P 500 index declined 0.31%, while the Nasdaq Composite index slipped 0.15%.
Official data on Friday showed that the U.S. economy added 162,000 jobs in July, less than the 184,000 increase forecast by economists. June's figure was revised down to 188,000 from a previously reported 195,000.
The unemployment rate ticked down to 7.4% from 7.6% in June, as more people left the labor force.
Apple climbed 0.52%, after the Obama administration decided over the weekend to veto an import ban on some of the tech giant's products in the U.S., dealing a blow to rival Samsung Electronics.
In the same sector, Dell edged down 0.08% after the company's special committee and the buyout group led by Michael Dell reached an agreement on Friday that would help clear passage of the buyout deal.
Elsewhere, Facebook rallied 1.52% boosted by Chief Executive Officer Mark Zuckerberg's repeated comments to investors, saying he's building a "mobile first" company.
In earnings news, Tyson Foods surged 4.03% after the meat processor exceeded market expectations, helped by strong demand for chicken and beef. The company also said it sees 2014 sales above average analyst forecasts.
Other stocks likely to be in focus included Dun and Bradstreet, Tesoro Logistics, Stone Energy and Plains All American, all scheduled to post results later in the day.
Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 fell 0.14%, France’s CAC 40 inched up 0.05%, Germany's DAX slipped 0.27%, while Britain's FTSE 100 retreated 0.64%.
During the Asian trading session, Hong Kong's Hang Seng Index added 0.14%, while Japan’s Nikkei 225 Index plummeted 1.44%.
Later in the day, the Institute for Supply Management was to release its nonmanufacturing index.
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Written By: Investing.com
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