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U.S. stocks open lower amid data, earnings reports

Xinhua, April 29, 2016 Adjust font size:

U.S. stocks opened mildly lower Friday as investors digested the newly-released economic data and quarterly earnings reports.

Shortly after the opening bell, the Dow Jones Industrial Average fell 50.34 points, or 0.28 percent, to 17,780.42. The S&P 500 lost 4.11 points, or 0.20 percent, to 2,071.70. The Nasdaq Composite Index was down 5.79 points, or 0.12 percent, to 4,799.50.

U.S. personal consumption expenditures increased 12.8 billion U.S. dollars or 0.1 percent in March, missing market estimates, the Commerce Department reported Friday.

In March, personal income increased 57.4 billion dollars, or 0.4 percent, and disposable personal income increased 50.4 billion dollars, or 0.4 percent.

In corporate news, shares of Chevron fell about 1 percent in the early trading Friday after the U.S. energy giant delivered lackluster quarterly earnings.

Shares of e-commerce giant Amazon soared nearly 11 percent in the early trading Friday following the release of the company's much-better-than-expected quarterly results.

On Thursday, U.S. stocks closed sharply lower as Wall Street was weighed by the Bank of Japan's decision to maintain its monetary policy amid the newly-released U.S. data.

After Thursday's closing bell, Amazon reported earnings of 1.07 dollars per diluted share for the first quarter of 2016, on revenues of 29.1 billion dollars. Endi