Markets Right Now: US stocks open mostly lower

The latest on developments in financial markets (all times local):

Continue Reading Below

9:35 a.m.

Stocks are opening mostly lower on Wall Street as investors react to some disappointing earnings reports.

Banks and industrial companies led the way lower in early trading on Friday.

State Street slumped 7 percent after missing analysts' profit forecasts and announcing an acquisition, and General Electric dropped 3 percent after issuing a weak outlook.

Shoe maker Skechers plunged 26 percent after missing Wall Street's earnings estimates.

Advertisement

Microsoft rose 3 percent after reporting a strong quarter.

The S&P 500 index fell 1 point, less than 0.1 percent, to 2,802.

The Dow Jones Industrial Average lost 50 points, or 0.2 percent, to 25,012. The Nasdaq composite rose 10 points, or 0.1 percent, to 7,833.

Source: Read Full Article