Stocks Opened Slightly Lower after Weak Earnings

U.S. stocks opened slightly lower on Friday, after a round of disappointing corporate earnings, as the Turkish lira resumed a slide against the U.S. dollar. The Dow Jones Industrial Average lately was up 4.39 points, or 0.02%, to 25,563.12. the S&P 500 edged lower by 1.90 points, or 0.07%, to 2,838.79. The Nasdaq Composite dropped 24.49 points, or 0.31%, to 7,782.03.

Oil futures moved higher early Friday, but remained on track for weekly losses after data earlier this week marked a surprise jump in U.S. crude inventories. West Texas Intermediate crude for September delivery was up 39 cents, or 0.6%, at $65.85 a barrel. October Brent crude rose 78 cents, or 1.1%, to $72.21 a barrel.

Deere & Company (DE) reported weaker-than-expected profit. It reported third-quarter fiscal 2018 (ended Jul 29, 2018) adjusted earnings of $2.59 per share. Net sales of equipment operations came in at $9.3 billion, surging 36% year over year.

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