US stocks mostly lower despite China data

Written By Unknown on Jumat, 09 Agustus 2013 | 23.47

US stocks have opened mostly lower despite Chinese industrial production data that showed strength in the world's second-largest economy.

Five minutes into trade on Friday, the Dow Jones Industrial Average lost 25.40 (0.16 per cent) at 15,472.92.

The broad-based S&P 500 slipped 1.72 (0.10 per cent) to 1,695.76, while the tech-rich Nasdaq Composite Index was essentially flat at 3,669.16, up 0.04 of a point.

The US economic calendar remained devoid of major releases, leaving the spotlight on Chinese data that showed industrial production rose 9.7 per cent, well above analyst expectations of 9.0 per cent.

Still, Briefing.com cautioned that "a couple of monthly releases aren't sufficient to conclude that a major shift in the slowing Chinese growth trend has occurred".

US stocks have fallen three of the last four days.


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