US open: Major indices on track for winning week

(Sharecast News) - Wall Street trading got off to a mixed start on Friday following solid gains in the previous session. As of 1515 GMT, the Dow Jones Industrial Average was down 0.29% at 44,433.75, while the S&P 500 lost 0.03% to 6,116.93 and the Nasdaq Composite came out the gate 0.03% firmer at 20,059.28.

The Dow opened 131.32 points lower on Friday, taking a bite out of gains recorded in the previous session after Donald Trump told world leaders that he would "demand that interest rates drop immediately".

Despite the Dow's early losses, major indices were on track to deliver a second consecutive winning week on Friday, with Donald Trump's return to the White House giving investors confidence regarding the state of the US economy thanks to his pro-business approach to governing.

On the macro front, the S&P Global US manufacturing PMI increased to 50.1 in January, according to a preliminary reading, up from 49.4 in December and ahead of market expectations for a reading of 49.7, pointing to a modest improvement in manufacturing conditions after six months of decline.

The services PMI, on the other hand, fell from 56.8 to 52.8 in January, missing expectations for only a slight fall to 56.5, marking the softest pace of expansion since April 2024, while the composite PMI eased to 52.4 in January, down from December's 55.4 to signal the weakest expansion in the country's private sector in nine months.

Elsewhere, existing home sales rose by 2.2% to a seasonally adjusted annualised rate of 4.38m in December, according to the National Association of Realtors, the highest reading since February 2024.

Finally, the University of Michigan's consumer sentiment index decreased to 71.1 in January, down from 74 in December.

In the corporate space, shares in semiconductor outfit Texas Instruments traded lower on the back of disappointing quarterly earnings guidance, while Boeing shares flew south after the publication of preliminary Q4 numbers.

Pharmaceutical giant Novo Nordisk traded sharply higher thanks to positive headline results from early-stage trials into one of its weight loss drugs, and lender American Express reported record FY revenues of $65.9bn, up 9% year-on-year thanks to solid holiday spending,

Still to come, Verizon was slated to report earnings on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Verizon Communications Inc. (VZ) $39.50 0.82% Boeing Co. (BA) $179.67 0.66% Salesforce.Com Inc. (CRM) $336.65 0.59% Apple Inc. (AAPL) $224.67 0.45% Visa Inc. (V) $329.32 0.34% Walmart Inc. (WMT) $94.10 0.31% Dow Chemical Co. (DOW) $41.58 0.25% Walt Disney Co. (DIS) $111.30 0.23% Travelers Company Inc. (TRV) $241.94 0.18% JP Morgan Chase & Co. (JPM) $266.18 0.09%

Dow Jones - Fallers

Intel Corp. (INTC) $20.98 -2.74% American Express Co. (AXP) $317.68 -2.51% Procter & Gamble Co. (PG) $163.24 -1.75% Amgen Inc. (AMGN) $274.11 -1.35% Nike Inc. (NKE) $73.60 -0.94% Walgreens Boots Alliance, Inc. (WBA) $11.64 -0.85% Goldman Sachs Group Inc. (GS) $634.28 -0.82% Home Depot Inc. (HD) $411.33 -0.74% Merck & Co. Inc. (MRK) $95.93 -0.72% Unitedhealth Group Inc. (UNH) $526.10 -0.69%

S&P 500 - Risers

CenturyLink Inc. (LUMN) $6.05 4.85% Broadcom Inc. (AVGO) $248.04 3.23% United Airlines Holdings Inc (UAL) $106.00 2.91% Arista Networks Inc. (ANET) $132.69 2.76% NextEra Energy Inc. (NEE) $70.76 2.21% Tapestry Inc. (TPR) $74.92 1.77% Keycorp (KEY) $17.74 1.55% AES Corp. (AES) $11.70 1.52% Molson Coors Beverage Co. Class B (TAP) $54.83 1.46% Constellation Brands Inc. Class A (STZ) $182.10 1.45%

S&P 500 - Fallers

CF Industries Holdings Inc. (CF) $89.23 -6.31% Texas Instruments Inc (TXN) $189.30 -5.64% Microchip Technology Inc. (MCHP) $57.13 -4.10% Mohawk Inds Inc. (MHK) $125.85 -3.81% Intuitive Surgical Inc. (ISRG) $585.73 -3.77% CSX Corp. (CSX) $32.56 -3.30% Analog Devices Inc. (ADI) $221.15 -3.15% Intel Corp. (INTC) $20.98 -2.74% American Express Co. (AXP) $317.68 -2.51% General Electric Co. (GE) $196.00 -2.39%

Nasdaq 100 - Risers

Broadcom Inc. (AVGO) $248.04 3.23% JD.com, Inc. (JD) $39.79 2.82% Trip.com Group Limited (TCOM) $69.73 2.54% NetEase Inc. Ads (NTES) $101.27 1.83% Meta Platforms Inc. (META) $644.97 1.34% Mercadolibre Inc. (MELI) $1,850.04 1.17% Illumina Inc. (ILMN) $136.26 1.11% Workday, Inc. (WDAY) $257.78 0.97% Fiserv Inc. (FI) $208.49 0.97% Alphabet Inc. Class C (GOOG) $201.28 0.85%

Nasdaq 100 - Fallers

Texas Instruments Inc (TXN) $189.30 -5.64% Microchip Technology Inc. (MCHP) $57.13 -4.10% Intuitive Surgical Inc. (ISRG) $585.73 -3.77% CSX Corp. (CSX) $32.56 -3.30% Analog Devices Inc. (ADI) $221.15 -3.15% Intel Corp. (INTC) $20.98 -2.74% Regeneron Pharmaceuticals Inc. (REGN) $682.68 -1.72% Qurate Retail Inc. (QRTEA) $0.37 -1.62% Electronic Arts Inc. (EA) $116.89 -1.43% Amgen Inc. (AMGN) $274.11 -1.35%