U.S. stocks open lower as Amazon's cloud outlook, sticky inflation disappoint investors

U.S. stock indexes opened lower on Friday after Amazon warned about a slowdown in its cloud business, while strong inflation data cemented expectations for higher rates in the U.S.. The Dow Jones Industrial Average dropped 70 points, or 0.2%, to 33,758. The S&P 500 was down 0.

1%, while the Nasdaq Composite lost 0.3%. Amazon.com Inc. shares slumped 2.5% after the company's chief financial officer said in a conference call on Thursday that the company's cloud revenue is decelerating in the current quarter. In economic data, the cost of goods and services rose 0.1% in March and the yearly rate of inflation slowed again...

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