- The major Wall Street indices are trading in the red on Friday.
- Defensive sectors are trading in positive territory after the opening bell.
- The S&P 500 Consumer Discretionary Index is down nearly 3%.
The main US stock indices they opened lower on the last trading day of the week. The S&P 500 Index, which hit a new all-time high of 4,429, is down 0.5% to 4,396, the Dow Jones Industrial Average is losing 0.1% to 35,052, and the Nasdaq Composite is falling nearly 1% to 14,636.
Hours earlier, the US Bureau of Economic Analysis reported that Personal Spending increased 1% in June, while Personal Income increased only 0.1%. Additionally, core inflation for the PCE rose to 3.5% annually in June, compared to analysts’ estimate of 3.7%.
Among the top 11 sectors on the S&P 500, defensive real estate and utilities indices are trading in positive territory after the opening bell. On the other hand, the Discretionary Consumer Index has fallen by 2.8% as the largest percentage drop in the first operations.
S&P 500 chart (daily)
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