US stock market opens lower

By Ovunc Kutlu

NEW YORK (AA) - The U.S. stock market opened lower on Friday as a decline in Amazon shares dragged down indexes.

The e-commerce giant announced late Thursday its net income fell 77 percent to $197 million in the second quarter of the year, from $857 million during the same period last year.

After the sharp decline in net income, Amazon share value lost 3.4 percent at the opening bell.

The Dow Jones index lost 20 points to open at 21,776 points, and the S&P 500 fell 4 points to 2,470 points.

The Nasdaq decreased 27 points to start trading at 6,355 points.

The American economy, on the other hand, grew 2.6 percent in the second quarter of the year, the U.S. Commerce Department announced earlier Friday.

The first quarter economic growth, however, was revised down to 1.2 percent, from 1.4 percent.