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AmEx, eBay go in opposite directions as US stocks dip

AFP

Shares of eBay plunged while American Express rallied following earnings reports Thursday, as US stocks drifted lower in opening trading.

Online marketplace eBay fell nearly 10 percent on disappointment over its sales outlook for the key holiday quarter. Meanwhile, American Express jumped 7.4 percent as it lifted its full-year forecast following better-than-expected third quarter net profits.

The mixed earnings came as the European Central Bank kept rates on hold, as expected, while ECB President Mario Draghi dismissed talk of winding down the bank's massive stimulus program, saying policymakers did not discuss that.

Five minutes into trading, the Dow Jones Industrial Average stood at 18,193.38, down 0.1 percent.

The broad-based S&P 500 lost 0.1 percent to 2,141.92, while the tech-rich Nasdaq Composite Index shed 0.1 percent to 5,239.68.