S&P 500 Index opens in the negative territory below 4,400
|- Wall Street's main indexes trade in the red on Friday.
- Defensive sectors trade in the positive territory after the opening bell.
- S&P 500 Consumer Discretionary Index is down nearly 3%.
Major equity indexes in the US opened lower on the last trading day of the week. The S&P 500 Index, which notched a new all-time high of 4,429, is currently down 0.5% at 4,396, the Dow Jones Industrial Average is losing 0.1% at 35,052 and the Nasdaq Composite is falling nearly 1% at 14,636.
Earlier in the day, the US Bureau of Economic Analysis reported that Personal Spending increased by 1% in June while Personal Income rose by only 0.1%. Moreover, the Core PCE inflation edged higher to 3.5% on a yearly basis in June, compared to analysts' estimate of 3.7%.
Among the 11 major S&P 500 sectors, the defensive Real Estate and Utilities indexes trade in the positive territory after the opening bell. On the other hand, the COnsumer Discretionary Index is down 2.8% as the biggest percentage decline in early trade.
S&P 500 chart (daily)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.