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US stocks open lower despite solid industrial, jobs data

AFP

US stocks headed modestly lower in opening trade Thursday despite buoyant industrial production and jobless claims data that pointed to continued strength in the economy.

Traders remained cautious ahead of US Federal Reserve Chair Janet Yellen's speech at a central banking summit Friday in Jackson Hole, Wyoming.

Yellen is expected to address the concerns about the alleged lack of direction and clarity in Fed policy, amid criticism from some quarters that the Fed could do more to help the economy.

Markets, meanwhile, will be focused on what she says about the path of interest rates.

Ten minutes into trade, the Dow Jones Industrial Average was down 0.1 percent at 18,461.97.

The broad-based S&P 500 slipped 0.1 percent to 2,172.61, while the tech-rich Nasdaq Composite Index gave up 0.1 percent at 5,211.17.