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U.S. stocks open mixed amid data, earnings

Xinhua, July 17, 2015 Adjust font size:

U.S. stocks opened mixed on Friday as investors meditated on generally upbeat economic data and the second-quarter earnings reports.

The Consumer Price Index (CPI) for all urban consumers increased 0.3 percent in June on a seasonally adjusted basis, in line with market expectations, the U.S. Labor Department reported Friday.

The CPI showed a 12-month increase for the first time since December, rising 0.1 percent for the 12 months ending June.

The index for all items less food and energy increased 0.2 percent in June after rising 0.1 percent in May. The index for all items less food and energy has risen 1.8 percent over the past 12 months.

U.S. privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,174,000, beating market consensus, the Commerce Department said Friday.

This is 9.8 percent above the revised May estimate of 1,069,000 and is 26.6 percent above the June 2014 rate of 927,000.

In corporate news, Google Inc. surged over 12 percent in early trading on Friday after reporting strong results for its second quarter.

The search giant posted a second-quarter net income of 3.93 billion U.S. dollars, or 6.43 dollars per share, up from 3.35 billion dollars, or 4.88 dollars per share, a year earlier.

General Electric Company announced second-quarter operating earnings of 2.8 billion dollars, with Industrial+ Verticals operating earnings per share of 0.31 dollar, up 19 percent from the second quarter of 2014. Its shares rose about 0.3 percent in early trading.

Shortly after the opening bell, the Dow Jones Industrial Average fell 35.94 points, or 0.20 percent, to 18,084.31. The S&P 500 edged up 0.22 point, or 0.01 percent, to 2,124.51. The Nasdaq Composite Index gained 32.62 points, or 0.63 percent, to 5,195.81. Endi