US STOCKS-Wall St opens lower as investors assess earnings, data

viernes 29 de abril de 2016 10:01 GYT
 

* Amazon jumps 11 pct after results beat estimates

* Inflation barely rises in March

* LinkedIn rises after increasing 2016 forecast

* Indexes down: Dow 0.29 pct, S&P 0.19 pct, Nasdaq 0.01 pct (Updates to open)

By Tanya Agrawal

April 29 (Reuters) - Wall Street opened lower as investors assessed earnings and data showed that U.S. inflation barely rose in March as consumer spending remains tepid.

The Commerce Department said the personal consumption expenditures price index, excluding the volatile food and energy components, edged up 0.1 percent last month after an upwardly revised 0.2 percent increase in February.

"I think we are looking at a cautious trading day as the poor earnings season finally catches up, though oil could help smoothen some of the declines," said Peter Cardillo, chief market economist at First Standard Financial in New York.

First-quarter earnings from S&P 500 components are expected to have fallen 6.1 percent from a year earlier, according to Thomson Reuters I/B/E/S. Of the 273 companies that have reported, 57 percent reported revenue above analyst expectations, compared with the long-term average 60 percent.   Continuación...