US: Stocks mostly down; S&P 500 retreats from record
[NEW YORK] Wall Street stocks opened mostly lower on Friday ahead of a long holiday weekend as traders awaited a speech by Federal Reserve Chair Janet Yellen on the US economic outlook.
Five minutes into trade, the Dow Jones Industrial Average was at 18,258.84, down 26.90 points (0.15 per cent).
The broad-based S&P 500 retreated from Thursday's record, falling 3.74 (0.18 per cent) to 2,127.08, while the tech-rich Nasdaq Composite Index added 0.46 (0.01 per cent) at 4,529.82.
Investors are hoping that Fed Chair Yellen's speech in the afternoon will deliver insights into when the central bank will raise near-zero interest rates, now generally expected in September at the earliest.
Markets will be closed on Monday for the Memorial Day holiday.
AFP
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%
Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit
Europe: Shares ease after Federal Reserve decision, mixed earnings
US: Tech shares lead stocks higher