U.S. stocks were mixed on Friday’s opening, with the S&P 500 ending its heaviest weekly decline since June as investors weigh in quarterly earnings.
The S&P 500 advanced 0.33% to 1546.36 points. The Dow Jones Industrial Average slipped 0.39% to 14480.24 points. The NASDAQ composite index gained 0.31% to 3176.10 points. As of 09:58 New York Time
The market has weakened on recent economic data, and the S&P 500, down 3 percent over the past four sessions, is on track to post its worst week in 10 months. A fall in commodities has also weighed on stocks this week.
Among earnings, General Electric plummeted 3.72% to $21.80 after the company reported results that beat estimates, but said weakness in the company`s European operations dimmed optimism.
Adding to losses, McDonald`s tumbled 2.02% to $99.78 after the fast-food chain missed earnings expectations by a penny and said global comparable sales were down 1% for the quarter.
In the tech sector, IBM plunged 6.43% to $193.96 after posting a quarterly earnings miss. The company added that it will accelerate the pace of job cuts after sales of software and mainframe computers slowed.
Meanwhile, Google shares rallied 1.51% to $777.340, as the group`s net revenue grew 23% in the first quarter, easing the effect of a sharp decline in its Motorola mobile phone division.
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