U.S. stocks open lower on GDP data

U.S. stocks opened narrowly lower on Friday, as investors digested the second read on first-quarter gross domestic product (GDP).

U.S. Commerce Department announced Friday that the second estimate of real GDP decreased at an annual rate of 0.7 percent in the first quarter of 2015.

Analysts said the strong dollar and weak overseas demand has caused exports to drop two quarters in a row while imports continue to grow.

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, nonresidential fixed investment, and state and local government spending that were partly offset by positive contributions from personal consumption expenditures (PCE), private inventory investment, and residential fixed investment, according to the Commerce Department.

Lack of resolution on Greece debt talks weighed on Wall Street sentiment as well. Greek Prime Minister Alexis Tsipras expressed optimism Wednesday that Greece and its creditors were close to reaching a deal on the future handling of the Greek debt crisis after four months of tough negotiations.

However, European officials denied a deal was near, saying the two sides still had some way to go before any agreement could be concluded and they were surprised by Athens' upbeat tone.

IMF Chief Christine Lagarde told a German newspaper that a Greek exit is a possibility, and it would "probably not" mean the end of the euro.

U.S. stocks pared early losses to end mildly lower on Thursday, as Wall Street pondered over impacts of renewed worries about Greece debt crisis.

Shortly after the opening bell, the Dow Jones Industrial Average was down 21.49 points, or 0.12 percent, to 18,104.63. The S&P 500 shed 1.71 points, or 0.08 percent, to 2,119.07. The Nasdaq Composite Index ticked down 0.67 points, or 0.01 percent, to 5,097.30. Enditem