U.S. equity markets opened lower and turned mixed on the heels of disappointing retail sales data and weak guidance from home improvement retailer, Home Depot Inc. (NYSE: HD). Retail sales rose by just 0.4% in April –– missing forecasts calling for an increase of 0.8%, following the retreat in March. Ahead of a slew of earnings from U.S. retailers, Home Depot shares slid over 1% in morning trade as it slashed its sales and earnings forecasts for the year.
Overseas in China, economic data releases reflected an economy that is still in recovery. Key data including retail sales, industrial production, fixed asset investment, and manufacturing PMI came in below expectations.
Read More : China’s Economic Data Disappoints, Attention Turns to Tech Sector’s Earnings