US open: Major indices on track for winning week
Wall Street stocks opened higher on Friday, putting major indices on track to close out the week in the green.
As of 1520 BST, the Dow Jones Industrial Average was up 0.38% at 33,461, while the S&P 500 was 0.66% firmer at 4,235.15 and the Nasdaq Composite came out the gate 1.01% stronger at 12,909.01..
The Dow opened 125.19 points higher on Friday, extending modest gains recorded in the previous session following the publication of last month's PPI reading.
Friday's primary focus will be a preliminary reading of the University of Michigan's August consumer sentiment index, which revealed consumer confidence in the US improved a bit more than anticipated last month, albeit from June's all-time record low. The University of Michigan's preliminary consumer confidence index for August rose from July's print of 51.5 to 55.1. Economists had forecast a reading of 52.0.
Elsewhere on the macro front, the cost of goods in the US that were purchased overseas dropped more sharply than expected last month, dragged lower by a fall in imported fuel prices. Friday's data marked the fourth consecutive monthly drop, the first month-on-month decline of 2022 and the biggest drop since April 2020. According to the Department of Labor, in seasonally adjusted terms, the country's import price index slipped at a month-on-month pace of 1.4% (consensus: -0.9%), as fuel import prices fell by 7.5%.
No major corporate earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walt Disney Co. (DIS) $120.31 2.22%
Unitedhealth Group Inc. (UNH) $539.39 1.23%
Apple Inc. (AAPL) $169.97 0.88%
Intel Corp. (INTC) $35.86 0.75%
McDonald's Corp. (MCD) $261.21 0.75%
3M Co. (MMM) $150.70 0.69%
Travelers Company Inc. (TRV) $169.84 0.61%
Cisco Systems Inc. (CSCO) $46.17 0.60%
American Express Co. (AXP) $163.73 0.45%
Boeing Co. (BA) $168.54 0.40%
Dow Jones - Fallers
Chevron Corp. (CVX) $157.64 -1.24%
Johnson & Johnson (JNJ) $165.78 -0.81%
JP Morgan Chase & Co. (JPM) $119.64 -0.42%
Amgen Inc. (AMGN) $247.47 -0.35%
Goldman Sachs Group Inc. (GS) $350.89 -0.22%
Salesforce.Com Inc. (CRM) $186.50 -0.12%
International Business Machines Corporation (CDI) (IBM) $132.43 -0.09%
Walgreens Boots Alliance, Inc. (WBA) $40.04 -0.07%
Nike Inc. (NKE) $114.07 -0.03%
Dowdupont Inc. (DWDP) $0.00 0.00%
S&P 500 - Risers
Broadridge Fin Sol (BR) $177.49 4.57%
Apartment Investment & Management Co. (AIV) $9.59 4.24%
Cardinal Health Inc. (CAH) $67.98 3.00%
Norwegian Cruise Line Holdings Ltd (NCLH) $14.16 2.91%
Applied Materials Inc. (AMAT) $108.37 2.69%
Lam Research Corp. (LRCX) $510.48 2.62%
Advanced Micro Devices Inc. (AMD) $100.57 2.50%
Oracle Corp. (ORCL) $79.01 2.40%
Nvidia Corp. (NVDA) $183.54 2.30%
Dish Network Corp. (DISH) $19.81 2.27%
S&P 500 - Fallers
Illumina Inc. (ILMN) $207.40 -8.81%
Coterra Energy Inc. (CTRA) $28.33 -3.39%
Resmed Inc. (RMD) $236.50 -1.81%
Bread Financial Holdings, Inc. (BFH) $43.34 -1.63%
Halliburton Co. (HAL) $29.12 -1.52%
Diamondback Energy Inc. (FANG) $130.94 -1.39%
PVH Corp. (PVH) $67.85 -1.34%
Hanesbrands Inc. (HBI) $10.53 -1.27%
Chevron Corp. (CVX) $157.64 -1.24%
Freeport-McMoRan Inc (FCX) $31.28 -1.23%
Nasdaq 100 - Risers
Workday, Inc. (WDAY) $172.44 3.83%
Applied Materials Inc. (AMAT) $108.37 2.69%
Lam Research Corp. (LRCX) $510.48 2.62%
Nvidia Corp. (NVDA) $183.54 2.30%
Dish Network Corp. (DISH) $19.81 2.27%
Skyworks Solutions Inc. (SWKS) $112.54 2.08%
Mercadolibre Inc. (MELI) $1,051.75 1.87%
Analog Devices Inc. (ADI) $177.64 1.77%
Micron Technology Inc. (MU) $63.40 1.73%
Microchip Technology Inc. (MCHP) $72.58 1.70%
Nasdaq 100 - Fallers
Illumina Inc. (ILMN) $207.40 -8.81%
Trip.com Group Limited (TCOM) $25.25 -2.66%
JD.com, Inc. (JD) $56.13 -1.41%
Baidu Inc. (BIDU) $137.63 -1.26%
NetEase Inc. Ads (NTES) $90.50 -1.11%
NortonLifeLock Inc. (NLOK) $23.87 -0.74%
Dollar Tree Inc (DLTR) $164.27 -0.67%
Biomarin Pharmaceutical Inc. (BMRN) $94.60 -0.49%
Amgen Inc. (AMGN) $247.47 -0.35%
Gilead Sciences Inc. (GILD) $62.30 -0.24%