Stocks open mixed as investors weigh weak spending
NEW YORK (AP) — Stocks are opening mixed as investors weigh a U.S. government report showing weak consumer spending in July.
The Dow Jones industrial average fell 10 points to 14,830 shortly after the market opened Friday. The broader Standard & Poor’s 500 index was up less than a point to 1,638. The Nasdaq composite fell two points to 3,617.
August is shaping up to be the market’s worst month since May 2012. The S&P 500 has fallen 48 points this month, a 3 percent decline. In May 2012, it fell 88 points, or 6.3 percent
The Commerce Department said Friday that U.S. consumers barely increased their spending in July after their income grew more slowly.
The markets will be closed Monday for the Labor Day holiday.