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U.S. stocks open mixed amid earnings, data

Xinhua, October 19, 2016 Adjust font size:

U.S. stocks opened mixed on Wednesday, as investors mainly focused on the newly-released earnings reports and economic data.

Before Wednesday's opening bell, Morgan Stanley reported net revenues of 8.9 billion U.S. dollars for the third quarter of 2016, and earnings per diluted share of 81 cents, beating market estimates. Its shares rose 0.65 percent in early trading.

On the economic front, U.S. privately-owned housing starts in September were at a seasonally adjusted annual rate of 1.047 million units, the Commerce Department announced Wednesday.

This is 9.0 percent below the revised August estimate of 1.150 million units, and is 11.9 percent below the September 2015 rate of 1.189 million units.

Overseas, China's economy grew 6.7 percent in the third quarter of 2016, holding steady from the second quarter and fueling hopes that the Chinese government will achieve this year's GDP target.

Shortly after the opening bell, the Dow Jones Industrial Average gained 19.72 points, or 0.11 percent, to 18,181.66. The S&P 500 ticked down 0.12 points, or 0.01 percent, to 2,139.48. The Nasdaq Composite Index lost 8.38 points, or 0.16 percent, to 5,235.46.

U.S. stocks ended higher after wavering in a tight range Tuesday, as Wall Street cheered over a batch of generally positive quarterly earnings reports. Endi