U.S. Stocks Open Lower After Data, Earnings

U.S. stocks opened slightly lower on Thursday after a number of economic reports and earnings results. A sharp drop in jobless claims and an uptick in wages suggests a tightening in the labor market. However, consumer spending rose only modestly while incomes were flat last month. The S&P 500 opened down 2 points, or 0.1%, at 2,104. The Nasdaq Composite opened 11 points, or 0.2, lower at 5,012. The Dow Jones Industrial Average was off by 11 points, or 0.1%, to 18,024.