US stocks open mixed after solid China GDP
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NEW YORK, Jan 18 AFP
January 19 2013, 01:47AM
US stocks were mixed in opening trade on Friday despite a strong growth report from China, as some earnings disappointments, especially from Intel, and Boeing's 787 problems weighed on the market.
Five minutes into trade, the Dow Jones Industrial Average was up 12.78 points (0.09 per cent) to 13,608.802.
The broad-based S&P 500 fell 1.82 points (0.12 per cent) to 1,479.12.
The tech-heavy Nasdaq Composite lost 9.15 points (0.29 per cent) at 3,126.85.
Chipmaker Intel sank 5.6 per cent after a poor fourth-quarter earnings report, with a 31 per cent drop in profit.
General Electric added 2.3 per cent after reporting a 7.5 per cent rise in fourth-quarter profit, with chief executive Jeffrey Immelt expressing measured confidence for 2013.
AT&T fell 0.5 per cent following its after-trade announcement on Thursday that it would take a $US10 billion ($A9.53 billion) charge on fourth-quarter earnings to account for a sharp cut in its forecast earnings at its pension fund, due to lower interest rates.
Boeing, facing more trouble over its 787 aircraft, fell back 0.5 per cent following Thursday's 1.2 per cent rebound.
