US mid-morning: Slight falls in stocks

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LONDON (ShareCast) - -Dudley (Fed) now less pessimistic on US economic outlook -P5+1 conference scheduled to start soon in Baghdad Dow Jones (DJI: ^DJI - news) : -0.31% Nasdaq Comp.: -0.68% S&P 500 (SNP: ^GSPC - news) : -0.32% The main US equity benchmarks have opened higher by 0.2% on average. That despite the release of what at first glance looks to be some weaker than expected macroeconomic data out today. On the company front the most worthwhile news item today is the slide in Hewlett Packard (NYSE: HPQ - news) 's share price following its earnings out last night, alongside the announcement that it will lay-off 27,000 professionals. CIC may invest $2bn for a stake in Alibaba. Tiffany is falling 8% after the company cut its full-year profit guidance; NetApp (Xetra: A0NHKR - news) is down for the same reason.

Of interest, the President of the Federal Reserve Bank of New York (Frankfurt: A0DKRK - news) , William Dudley, has indicated that he is now less wary as regards the outlook for the US economy. From a sector stand-point the best performance can now be seen in: airlines (4.02%), platinum&precious metals (1.83%) and water (1.65%). Core (Berlin: LJ1.BE - news) capital goods orders drop sharply. But ... Durable goods orders grew by 0.2% month-on-month in April, as expected. So-called core capital goods orders on the other hand contracted at a 1.9% month-on-month pace. The latter made for the first back-to-back fall in a year. However, the previous month's fall was revised to -2.2% from the preliminary reading of -3.6%. Initial weekly unemployment claims fell by 2,000, to 370,000 (Consensus: 370,000). The Markit purchasing managers' index for the month of May has dropped back to 53.9 from 56 in the month before. The prices paid sub-index has fallen to 56.3 from 63.1. Oil nudges higher Front month West Texas crude futures are now moving higher by 1.3% to $91.07/barrel mark, possibly on the back of some negative news-flow emanating from the conference now taking place in Baghdad. 10 year US Treasuries are now off by 8/32 dollars, with yields at 1.76%. S&P 500 - Risers Southwest Airlines Co (NYSE: LUV - news) . (LUV) $8.68 +3.83% Hewlett-Packard Co. (HPQ) $21.79 +3.38% Watson Pharmaceuticals Inc. (WPI) $72.93 +3.14% Patterson Companies Inc (NasdaqGS: PDCO - news) . (PDCO) $33.56 +2.74% Dow Chemical Co. (DOW (NYSE: DPD - news) ) $31.27 +2.46% Viacom Inc (NYSE: VIA-B - news) . Class B (VIAB) $48.28 +2.27% Dean Foods Co. (DF) $14.92 +1.98% PPG Industries Inc. (PPG) $102.79 +1.97% Scripps Network Interactive Inc. (SNI) $53.62 +1.94% Zimmer Holdings Inc. (ZMH) $61.11 +1.85% S&P 500 - Fallers NetApp Inc. (NTAP) $28.03 -14.68% Tiffany & Co (NYSE: TIF - news) . (TIF (SNP: ^TIFY - news) ) $56.71 -8.24% F5 Networks Inc. (FFIV) $109.11 -7.41% EMC Corp (NYSE: EMC - news) . (EMC) $23.99 -5.77% Alpha Natural Res (NYSE: ANR - news) (ANR) $11.19 -4.93% MEMC Electronic Materials (NYSE: WFR - news) (WFR) $1.60 -4.76% Citrix Systems Inc. (CTXS) $76.15 -4.13% Cliffs Natural Resources Inc. (CLF) $49.93 -4.00% Stanley Black & Decker Inc. (SWK) $67.66 -3.86% First Solar Inc (NasdaqGS: FSLR - news) . (FSLR) $13.72 -3.82% Dow Jones I.A - Risers Hewlett-Packard Co. (HPQ) $21.79 +3.38% Coca-Cola Co. (KO) $75.33 +1.05% Home Depot Inc (NYSE: HD - news) . (HD) $49.07 +0.69% AT&T Inc. (T) $33.56 +0.60% Chevron Corp (NYSE: CVX - news) . (CVX) $99.52 +0.53% Intel Corp (NasdaqGS: INTC - news) . (INTC) $25.57 +0.51% Merck (Xetra: A0YD8Q - news) & Co. Inc. (MRK) $37.42 +0.21% Wal-Mart Stores Inc. (WMT) $64.71 +0.20% Kraft Foods Inc. (KFT) $38.48 +0.20% Exxon Mobil Corp (NYSE: XOM - news) . (XOM) $82.19 +0.18% Dow Jones I.A - Fallers Bank of America Corp (NYSE: IKJ - news) . (BAC) $7.03 -1.95% United Technologies Corp. (UTX) $72.80 -1.70% Caterpillar Inc (NYSE: CAT - news) . (CAT) $90.96 -1.63% Boeing Co (NYSE: BA - news) . (BA) $70.61 -1.33% Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $16.49 -1.20% E.I. du Pont de Nemours and Co. (DD) $48.16 -1.17% Alcoa Inc (NYSE: AA - news) . (AA) $8.51 -1.16% Travelers Company Inc. (TRV) $62.56 -0.88% International Business Machines Corp. (IBM (NYSE: IBM - news) ) $194.73 -0.71% 3M Co. (MMM) $84.23 -0.67% Nasdaq 100 (Nasdaq: ^NDX - news) - Risers Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $26.56 +3.03% Patterson Companies Inc. (PDCO) $33.56 +2.74% Infosys Technologies Ltd. (INFY) $43.13 +1.69% Costco Wholesale Corp. (COST) $84.59 +1.54% J.B. Hunt Transport Services Inc. (JBHT) $56.09 +1.25% Bed Bath & Beyond Inc (NasdaqGS: BBBY - news) . (BBBY) $71.81 +1.13% Mylan Inc (NasdaqCM: MYLNG - news) . (MYL) $21.05 +0.74% News Corp. Class A (NWSA) $19.32 +0.73% Comcast Corp (NYSE: CCS - news) . (CMCSA) $28.97 +0.63% Intel Corp. (INTC) $25.57 +0.51% Nasdaq 100 - Fallers NetApp Inc. (NTAP) $28.03 -14.68% Citrix Systems Inc. (CTXS) $76.15 -4.13% First Solar Inc. (FSLR) $13.72 -3.82% Baidu Inc (NasdaqGS: BIDU - news) . (BIDU) $117.96 -3.54% Electronic Arts Inc. (EA) $14.18 -3.47% Check Point Software Technologies Ltd. (CHKP) $52.79 -3.21% Research in Motion Ltd. (RIMM) $10.76 -2.98% Marvell Technology Group Ltd. (MRVL) $12.78 -2.44% Cognizant Technology Solutions Corp. (CTSH) $59.89 -2.25% Activision Blizzard Inc (NasdaqGS: ATVI - news) . (ATVI) $12.06 -2.19% AB