Why won't my iPod Touch will not load any apps?

After having a new iPod Touch for two days, it just decided to stop working on downloaded apps (Preloaded ones still work; Safari, YouTube, Notes, etc.) whenever I try to open an app it will show the loading screen for that individual app but will then quit out and go to the home screen. I have tried deleting the app in question but then it immediately started doing it for everything except pre-loaded apps (See Above). I also tried restoring the iPod Touch to factory default settings, and there is no update available. Please help!