U.S. stocks open lower amid earnings reports

U.S. stocks opened lower on Tuesday, as investors mainly digested newly-released corporate earnings.

Shares of Goldman Sachs tumbled over 3 percent in the early trading Tuesday, after it reported weaker-than-expected first-quarter results.

The Goldman Sachs reported net revenues of 8.03 billion U.S. dollars and net earnings of 2.26 billion dollars for the first quarter of 2017. Diluted earnings per common share were 5.15 dollars.

Bank of America posted quarterly an net income of 4.9 billion dollars, and earnings per share of 41 cents, topping Wall Street expectations.

On the economic front, U.S. privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,205,000, the Commerce Department said Tuesday, adding that this is 6.8 percent below the revised February estimate, but is 9.2 percent above the March 2016 rate.

U.S. industrial production increased by 0.5 percent in March after moving up 0.1 percent in February, in line with estimates, the Federal Reserve reported.

Shortly after the opening bell, the Dow Jones Industrial Average was down 89.37 points, or 0.43 percent, to 20,547.55. The S&P 500 lost 6.58 points, or 0.28 percent, to 2,342.43. The Nasdaq Composite Index shed 12.57 points, or 0.21 percent, to 5,844.21. Endi