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New York - US stocks opened in the red on Friday, extending the previous day's sharp losses despite better-than-expected quarterly earnings from ExxonMobil and Amazon.
ExxonMobil reported first-quarter earnings dived 63% due to plunging oil prices, but earnings per share were better than expected. The Dow member's shares rose 1.6%.
Online giant Amazon jumped 10.1% after reporting a swing into profit from a year ago for the first quarter to $513m, racking up a fourth consecutive profitable quarter.
About 10 minutes into trade, the Dow Jones Industrial Average was down 0.2% at 17 789.12.
The broad-based S&P 500 fell 0.2% to 2 072.50, while the tech-rich Nasdaq Composite Index was flat at 4 805.39.
Besides Amazon, online travel giant Expedia and LinkedIn, the professional online network, also beat earnings forecasts, Patrick O'Hare at Briefing.com noted.
"Notwithstanding their good reports, there hasn't been much of a halo effect for the broader market, which seems still to be getting over the shock of yesterday's late, and persistent, tide of selling interest," he said.
