US open: Stocks lower following nonfarm payrolls report

dl exchange place wall st street pl new york city nyc ny nyse stock exchange dow jones sp nasdaq finance dollar dollars us usa united states of america — Exchange PlaceSharecast photo / Josh White

Wall Street stocks were in the red early on Friday as investors digested last month's nonfarm payrolls report.

As of 1445 BST, the Dow Jones Industrial Average was down 0.04% at 31,370.95, while the S&P 500 was 0.28% weaker at 3,891.79 and the Nasdaq Composite came out the gate 0.51% softer at 11,561.88.

The Dow opened 13.60 points lower on Friday, taking a small bite out of gains recorded in the previous session amid easing commodity prices.

Friday's primary focus will be June's employment report, which revealed US non-farm payrolls growth slowed to 372,000. However, the readings for the previous two months were revised lower by a combined print of 74,000. Average hourly earnings, on the other hand, increased at a month-on-month pace of 0.3%.

Traders were also digesting the latest set of FOMC minutes, which confirmed the central bank was willing to provide further support as part of an effort to manage inflation. However, recession concerns also continued to hang over Wall Street.

Elsewhere on the macro front, May wholesale inventories data and consumer credit change figures will be published at 1500 BST and 2000 BST, respectively.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

JP Morgan Chase & Co. (JPM) $114.72 0.00%
Boeing Co. (BA) $139.97 0.00%
Cisco Systems Inc. (CSCO) $43.22 0.00%
Merck & Co. Inc. (MRK) $93.01 0.00%
Procter & Gamble Co. (PG) $146.00 0.00%
Goldman Sachs Group Inc. (GS) $298.60 0.00%
Visa Inc. (V) $202.80 0.00%
Unitedhealth Group Inc. (UNH) $514.38 0.00%
Honeywell International Inc. (HON) $230.94 0.00%
Amgen Inc. (AMGN) $247.42 0.00%