Stocks Opened Lower after Stronger CPI Data

U.S. stocks opened slightly weaker on Friday after a stronger-than-expected CPI report. The Dow Jones Industrial Average lately slipped 10.01 points, or 0.05%, to 18,275.73. The S&P 500 was down 1.08 points, or 0.05%, to 2,129.74. The Nasdaq Composite was up 5.60 points, or 0.11%, to 5,096.40.

U.S. consumer prices moderated in April on weak gasoline prices, but rising shelter and medical care costs boosted underlying inflation pressures. The Labor Department said on Friday its Consumer Price Index gained 0.1 percent last month after increasing 0.2 percent in March.

The economic skies above Europe are clearing after the long years of crisis and it is imperative that governments take advantage of this to get their economies in order, European Central Bank president Mario Draghi said on Friday.

Packaged foods maker Campbell Soup Co (CPB.N) reported a better-than-expected quarterly profit, helped by lower promotions, higher selling prices and cost cuts. Campbell said its gross margin rose to 35.9 percent in the third quarter from 34.3 percent, a year earlier.

Amazon’s Prime Now is now delivering items from local stores in addition to its own inventory and vendors in certain Manhattan neighborhoods, and the program will soon be expanding further in New York City.