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U.S. stocks open slightly higher amid data, earnings

Xinhua, October 30, 2015 Adjust font size:

U.S. stocks opened fractionally higher Friday as the Wall Street eyed economic data and quarterly earnings reports.

U.S. consumers' personal income and spending data came out slightly lower than expected. In September, the two figures increased 0.1 percent respectively, according to the Commerce Department.

The price index for personal consumption expenditure, a gauge for the inflation level favored by the Federal Reserve, decreased 0.1 percent in September, following a decline of less than 0.1 percent in August.

On the earnings front, shares of Exxon Mobil Corp. dipped nearly 1 percent in early trading Friday after the company's quarterly earnings surpassed market estimates but revenues disappointed earlier expectations.

The energy giant announced an estimated third-quarter earnings of 4.2 billion U.S. dollars, or 1.01 dollars per diluted share, compared with 8.1 billion dollars, or 1.89 dollars per diluted share a year earlier.

Meanwhile, shares of LinkedIn Corp. spiked more than 11 percent after the release of the company' s much-better-than-expected quarterly results. The professional online network also gave a strong full-year and fourth-quarter earnings forecast.

Shortly after the opening bell, the Dow Jones Industrial Average edged up 11.16 points, or 0.06 percent, to 17,766.96. The S&P 500 rose 2.19 points, or 0.10 percent, to 2,091.60. The Nasdaq Composite Index added 7.14 points, or 0.14 percent, to 5,081.41.

On Thursday, U.S. stocks inched down after wavering in a tight range as the country's third-quarter economic growth came out weaker than expected. Endi