US: Wall Street mostly higher at the open

[NEW YORK] US equities continued to amble higher at the open on Friday, shrugging off ongoing concerns about the rapid spread of the Delta variant of Covid-19.

The Dow and S&P 500 were on track for a fourth consecutive record amid quiet summer trading.

"With all the chatter about the Delta variant and its potential impact on growth, it feels like the stock market should be trading lower. What it feels like, though, and what is actually happening are two different things," said Patrick J O'Hare of Briefing.com.

About 15 minutes into the final trading session of the week, the Dow Jones Industrial Average was up 0.2 per cent to 35,575.26, while the broad-based S&P 500 added 0.1 per cent to 4,465.32.

But the tech-rich Nasdaq Composite Index retreated, dipping less than 0.1 per cent to 14,808.19.

Mr O'Hare noted the S&P 500 is up 0.6 per cent for the week, "acting rather impervious to all the Delta talk."

Peter Cardillo of Spartan Capital Securities, said Disney's better-than-expected earnings will help drive the main indexes higher.

The iconic media and theme park company reported quarterly results after the close Thursday, showing streaming subscriptions more than doubled, helping to fuel profits of US$923 million.

Disney shares rose nearly 4 per cent in early trading.

"But it's also Friday, a Friday of August, we should expect light volume," Mr Cardillo told AFP.

AFP