LONDON (ShareCast) - US stocks have opened slightly lower as investors begin to fret about the economy again following the recent rally.
The Commerce Department said durable goods orders fell 2.5% in June against expectations of a 0.6% drop.
It rose 1.3% in May.
The Fed's beige book of economic conditions is also out in the afternoon.
Across the markets, the Dow Jones (news) is down 9 points to 9087 with the Nasdaq (NASDAQ: news) 6 points lower at 1968. The S&P 500 is 2 points lower.
On the corporate front, Yahoo (NASDAQ: YHOO - news) is posting big losses as it reached agreement with Microsoft (NASDAQ: MSFT - news) over a long-awaited search deal. Microsoft will acquire Yahoo's search technologies and combine it with its existing platforms, while Yahoo will deal with both companies sales and advertising.
Media giant Time Warner (NYSE: TWX - news) saw its second-quarter profit from continuing operations slip to 43 cents per share from 47 cents a year ago.
Wireless communication firm Sprint Nextal posted diluted loss of 13 cents per share in the quarter, up on 12 cent loss a year ago.
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