Wall Street opens flat to lower on weak China data

Friday, 18. October 2019 15:31

Markets in the United States opened flat to lower on Friday as investors digested weak economic data from China which showed the country's GDP growth in the third quarter stood at the weakest level in the last 30 years. Losses were capped by upbeat corporate earnings as American Express, Coca-Cola and Schlumberger topped estimates with their third-quarter results.

The Dow Jones lost 0.11% at 9:33 am ET. The worst performer was Johnson & Johnson, whose shares slumped 2.02% at 9:31 am ET on the announcement the company is recalling a single lot of its baby powder after the US Food and Drug Administration (FDA) found traces of asbestos samples of the product.

The S&P 500 was down 0.05% at 9:30 am ET with Hanesbrands plunging 7.13% at 9:33 am CET. Meanwhile, the Nasdaq 100 traded flat at 9:30 am ET.

The euro added 0.12% against the dollar to sell for 1.11386 at 9:34 am ET, while the pound dipped 0.16% compared to the US currency to go for 1.28703 at the same time.

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Breaking the News / NP