4/29/2022, 3:31 PM (Source: TeleTrader)
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US opens in the red with earnings, data in focus

Equities on the major stock market indexes in the United States traded with losses at the open on Friday as the investors digested the latest batch of corporate financial results for the quarter. After Apple Inc. and, Inc. published seemingly disappointing results the day before, Exxon Mobil Corp., Colgate-Palmolive Co., and Chevron Corp. all slid in the premarket after having posted earnings reports as well.

On the data front, the Bureau of Economic Analysis came out with a report on personal spending in the US, revealing the core price index for total personal consumption expenditures, watched closely by the Federal Reserve, added 5.2% on the year.

The Dow Jones Industrial Average sank 0.3%, or 101 points, at the open as Intel plunged 6.23%. The Nasdaq 100 tumbled 1.3% at the same time, with Amazon tumbling 10.93% a minute later. The S&P 500 concurrently lost 0.95%. The euro advanced by 0.29% versus the dollar at 9:29 am ET, selling for 1.05275.

Baha Breaking News (BBN) / BU