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U.S. stocks open lower, eyes on data; Dow Jones down 0.24%

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Investing.com -

Investing.com - U.S. stocks opened lower on Tuesday, after closing at record highs on Monday as markets awaited upcoming U.S. factory orders data.

During early U.S. trade, the Dow 30 slipped 0.24%, the S&P 500 fell 0.20%, while the NASDAQ Composite shed 0.29%.

Sentiment improved earlier after data showed that China's final HSBC Purchasing Managers Index came in at 49.4, down from a preliminary reading of 49.7, but higher then April's reading of 48.1.

A separate report showed that activity in the country's services sector rose to a six-month high in May.

In the tech sector, Apple (NASDAQ:AAPL) gained 0.41% after the company introduced on Monday a new operating system for its Mac computer, called Yosemite. The group also announced the iOS 8 for the iPhone and iPad.

Separately, Google (NASDAQ:GOOGL), whose shares declined 0.57%, was said to be planning to invest more than $1 billion in a series of internet access satellites around the globe.

The tech giant was also set to be in the spotlight amid reports its services in China face blockages as the government tightens Internet controls ahead of the anniversary of the Tiananmen Square crackdown.

Among pharmaceutical companies, Mylan (NASDAQ:MYL) retreated 0.64% after saying it reached a settlement with Pfizer (NYSE:PFE) over sales of a generic version of the Celebrex painkiller. Mylan said it would begin selling the drug, Celecoxib, before December.

Pfizer shares were up 0.03% following the news.

In the auto sector, General Motors (NYSE:GM) rallied 1.49% after the U.S. Center for Auto Safety reported that the company filed 2,004 reports on injuries and deaths stemming from accidents in cars that have been recalled for ignition-related defects.

Elsewhere, shares in Broadcom (NASDAQ:BRCM) climbed 0.40%, after surging over 9% on Monday when it announced that it was looking to sell or wind-down its cellular baseband business.

In earnings news, Dollar General (NYSE:DG) missed estimares by a penny, but shares still advanced 2.76%.

Quiksilver (NYSE:ZQK) saw shares dive 41.11% on the other hand, after the apparel retailer posted a wider-than-expected loss.

Across the Atlantic, European stock markets were lower. The DJ Euro Stoxx 50 declined 0.40%, France's CAC 40 fell 0.28%, Germany's DAX slid 0.37%, while Britain's FTSE 100 retreated 0.57%.

During the Asian trading session, Hong Kong's Hang Seng jumped 0.91%, while Japan's Nikkei 225 gained 0.66%.

Later in the day, the U.S. was to produce data on factory orders.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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