US Stocks Open Lower As Trump Enthusiasm Lessens

US stocks open lower as Trump enthusiasm lessens

NEW YORK, , (Pakistan Point News - APP - 11th Nov, 2016 ) - US equities markets opened lower on Friday as post-election enthusiasm for Donald Trump's White House victory appeared to wane. Five minutes into trading, the blue-chip Dow Jones Industrial Average was down 0.1 percent at 18,785.14. The broader S&P 500 was 0.3 percent lower at 2,160.75 and the Nasdaq stood at 5,190.15, 0.4 percent below Thursday's close. The Dow hit an all-time high on Thursday, as investors reacted jubilantly to news of Trump's clinching the US presidency.

However the Nasdaq, tied in large measure to the fortunes of Silicon Valley, moved 0.8 percent lower. Stocks were also lower in the oil and pharmaceutical sectors. Disney shares rose 2.4 percent despite posting disappointing quarterly results on Thursday, with operating income falling 13 percent to $1.45 billion on declining ad revenue for the sports broadcaster ESPN. Department store chain JC Penney fell 4.0 percent after missing forecasts and reporting falling sales in the most recent quarter.