US stocks on Friday opened slightly lower on weak US spending and income data ahead of a big US holiday weekend.
Five minutes into trade, the Dow Jones Industrial Average dropped 22.85 (0.15 percent) to 14,818.10.
The broad-based S&P 500 slipped 0.51 (0.03 percent) to 1,637.66, while the tech-rich Nasdaq Composite Index dropped 3.68 (0.10 percent) at 3,616.63.
The Commerce Department Friday said US consumer spending in July rose by only 0.1 percent, while personal income also ticked up 0.1 percent. The spending figure came in well below the 0.3 percent analyst estimate.
Patrick O’Hare, analyst at Briefing.com, said markets could be quiet ahead of the Labor Day weekend in the US, which will close markets on Monday.
“Any business that has to be transacted will probably take place early when there is a better chance of having more liquidity,” O’Hare said. “Barring some headline shock, things seem bound to slow down as the day progresses and the holiday weekend beckons.”
US stocks lower ahead of holiday weekend
