US stocks flat in opening trade

Written By Unknown on Jumat, 26 Oktober 2012 | 22.24

US stocks have opened flat under the shadow of earnings disappointments from tech giants Apple and Amazon but shored up by a slightly better-than-expected estimate of GDP growth in the third quarter.

Apple lost 0.4 per cent after reporting a quarterly profit of $US8.2 billion ($A7.97 billion) but missing expectations.

Amazon was stunned with a loss, mainly from a writedown of its stake in LivingSocial and higher operating costs. The online retailer rose 2.7 per cent in early trade.

Five minutes into Friday trade the Dow Jones Industrial Average was down 1.64 points (0.01 per cent) to 13,102.22.

The broad-based S&P 500 lost 0.75 (0.05 per cent) to 1,412.22, while the Nasdaq Composite added 0.68 (0.02 per cent) at 2,986.80.


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