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U.S. stocks open mixed on economic data

Xinhua, August 14, 2015 Adjust font size:

U.S. stocks tried for gains after the opening bell Friday, as investors were assessing a batch of economic data that could give a hint of when the Federal Reserve would raise interest rates.

The Producer Price Index for final demand advanced 0.2 percent in July, seasonally adjusted, beating market expectations, the U.S. Labor Department said Friday. Final demand prices rose 0.4 percent in June and 0.5 percent in May.

Meanwhile, industrial production increased 0.6 percent in July after moving up 0.1 percent in June, the Fed said Friday.

Analysts' focus shifted back to the timing of an interest rate hike after the release of economic data.

Earnings continue to remain in focus. With 92 percent of the S&P 500 companies having reported, second-quarter earnings are estimated to have increased 1.2 percent while revenues are projected to have fallen 3.5 percent, according to Thomson Reuters' data Friday.

Shortly after the opening bell, the Dow Jones Industrial Average gained 22.05 points, or 0.13 percent, to 17,430.30. The S&P 500 ticked up 1.49 points, or 0.07 percent, to 2,084.88. The Nasdaq Composite Index edged down 1.52 points, or 0.03 percent, to 5,032.04.

U.S. stocks finished mixed after wavering around a flat line in a narrow range Thursday, as Wall Street digested a slew of economic data. Endi