US open: Major indices on track for winning week despite early losses

US stocks were mostly in the red early on Friday, putting S&P 500 at risk of snapping its six-session winning streak.

As of 1545 BST, the Dow Jones Industrial Average was down 0.16% at 40,498.55, while the S&P 500 lost 0.06% to 5,539.81 and the Nasdaq Composite was flat at 17,595.38.

The Dow opened 64.51 points lower on Friday, taking a modest bite out of gains recorded in the previous session as both July's consumer price index and retail sales data lifted sentiment amid renewed optimism that an economic soft landing may still be on the cards.

In terms of Friday's macro headlines, US building permits fell by 4% in July to a seasonally adjusted annualised rate of 1.39m, according to the Census Bureau, the lowest level seen in four years and below market expectations of 1.43m, while US housing starts fell by 6.8% to 1.23m in July, the steepest decline seen since March, in sharp contrast to, and completely erasing, June's 1.1% increase.

Elsewhere, Americans' confidence in the economy and their finances was little changed in August, the results of a closely followed survey revealed. Preliminary results for the month of August revealed a small improvement in the University of Michigan's consumer confidence index from a July level of 66.4 to 67.8, ahead of consensus estimates of 66.9.

In the corporate space, H&R Block traded higher in after the tax services outfit announced a 17% dividend increase and a $1.5bn stock buyback, while Autodesk traded lower on the back of a Bloomberg report that revealed executives had ignored risks related to sales strategies.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Cisco Systems Inc. (CSCO) $48.53 7.12%
Walmart Inc. (WMT) $73.18 6.58%
Nike Inc. (NKE) $82.50 5.07%
Boeing Co. (BA) $176.41 4.69%
Salesforce.Com Inc. (CRM) $262.49 2.93%
Walt Disney Co. (DIS) $88.79 2.89%
Intel Corp. (INTC) $20.69 2.68%
Caterpillar Inc. (CAT) $345.64 2.38%
American Express Co. (AXP) $249.50 2.35%
Visa Inc. (V) $266.76 2.17%

Dow Jones - Fallers

Verizon Communications Inc. (VZ) $40.04 -2.10%
Procter & Gamble Co. (PG) $167.82 -0.52%
Merck & Co. Inc. (MRK) $113.30 -0.24%
Unitedhealth Group Inc. (UNH) $579.61 -0.01%
Dowdupont Inc. (DWDP) $0.00 0.00%
Goldman Sachs Group Inc. (GS) $498.87 0.06%
Coca-Cola Co. (KO) $68.65 0.10%
Johnson & Johnson (JNJ) $159.09 0.38%
JP Morgan Chase & Co. (JPM) $211.55 0.62%
3M Co. (MMM) $127.19 0.78%

S&P 500 - Risers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $365.80 10.34%
Albemarle Corp. (ALB) $79.14 8.63%
Cisco Systems Inc. (CSCO) $48.53 7.12%
Micron Technology Inc. (MU) $106.95 6.68%
Gap Inc. (GPS) $24.20 6.65%
Carnival Corp. (CCL) $15.74 6.64%
Walmart Inc. (WMT) $73.18 6.58%
Hanesbrands Inc. (HBI) $6.38 6.33%
Deere & Co. (DE) $373.26 6.26%
Nvidia Corp. (NVDA) $122.86 6.18%

S&P 500 - Fallers

AT&T Inc. (T) $19.09 -2.75%
Eversource Energy (ES) $64.83 -2.41%
General Mills Inc. (GIS) $68.71 -2.34%
American Tower Corp (Reit) (AMT) $218.06 -2.29%
ConAgra Brands Inc (CAG) $30.13 -2.11%
Sba Communications Corp. (SBAC) $214.77 -2.11%
Verizon Communications Inc. (VZ) $40.04 -2.10%
Hershey Foods Corp. (HSY) $196.66 -1.97%
Kraft Heinz Co. (KHC) $34.19 -1.95%
Consolidated Edison Inc. (ED) $99.06 -1.62%

Nasdaq 100 - Risers

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $365.80 10.34%
Cisco Systems Inc. (CSCO) $48.53 7.12%
Micron Technology Inc. (MU) $106.95 6.68%
Nvidia Corp. (NVDA) $122.86 6.18%
Broadcom Inc. (AVGO) $166.13 6.06%
Lam Research Corp. (LRCX) $890.10 5.87%
Workday, Inc. (WDAY) $231.56 5.61%
KLA-Tencor Corp. (KLAC) $836.19 5.30%
Align Technology Inc. (ALGN) $235.33 5.29%
Asml Holdings N.V. (ASML) $928.25 5.22%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $0.59 -3.02%
Kraft Heinz Co. (KHC) $34.19 -1.95%
Biomarin Pharmaceutical Inc. (BMRN) $89.18 -1.27%
Charter Communications Inc. (CHTR) $352.01 -1.20%
Liberty Global plc Series A (LBTYA) $18.70 -1.11%
Hologic Inc. (HOLX) $80.55 -1.07%
Biogen Inc (BIIB) $201.63 -0.84%
Mondelez International Inc. (MDLZ) $70.28 -0.83%
Liberty Global plc Series C (LBTYK) $19.29 -0.82%
T-Mobile Us, Inc. (TMUS) $194.63 -0.58%