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Latest Business News: US Stocks Open Lower, Dragged Down by Tech

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Latest Business News: US Stocks Open Lower, Dragged Down by Tech

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Latest Business News: US Stocks Open Lower, Dragged Down by Tech

Wochit 0:55 mins

Stocks are getting off to a weak start on Wall Street after more weakness in technology companies. The early decline is putting the market on track for its first weekly loss this month. U.S. consumer sentiment rose in July to the highest level in six years as Americans felt better about the current economic climate, though they expected to see a slower rate of growth in the year ahead. Apple may still be the most profitable consumer electronics company in the world, but Samsung's successful Galaxy S4 launch helped the South Korea-based giant top Apple in the second quarter to become the world's most profitable handset vendor. Samsung posted second-quarter results that included a record operating profit of $6.9 billion on $51.7 billion in sales.

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