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U.S. stocks open lower as trade deficit widens

Xinhua, May 5, 2015 Adjust font size:

U.S. stocks opened lower on Tuesday as U.S. trade deficit data came out more than expected.

The country's international trade deficit in goods and services increased to 51.4 billion U.S. dollars in March from a revised level of 35.9 billion dollars in February, as imports increased more than exports, said the Department of Commerce.

In corporate news, the Walt Disney Company reported earnings of 2.1 billion dollars for its second fiscal quarter, which ended March 28, 2015, beating market consensus. Diluted earnings per share for the second quarter increased 14 percent to 1.23 dollars from 1.08 dollars in the prior-year quarter. Its shares increased 0.68 percent in the early trading.

Shortly after the opening bell, the Dow Jones Industrial Average edged down 13.68 points, or 0.08 percent, to 18,056.72. The S&P 500 fell 2.4 points, or 0.11 percent, to 2,112.09. The Nasdaq Composite Index dipped 15.86 points, or 0.32 percent, to 5,001.07.

U.S. stocks ended mildly higher on Monday as U.S. new orders for manufactured goods in March turned positive. Endi