Stocks mixed in early trade as spending falls
NEW YORK- Stocks are heading slightly lower in early trading after the government reported that Americans cut back on their spending last month, a discouraging sign for the economy.
The Dow Jones industrial average slipped 13 points to 15,311 shortly after the opening bell Friday, the last day of May. That's a decline of 0.1 percent. The Dow is still up 17 percent this year.
The Standard & Poor's 500 index was down less than a point at 1,654. The Nasdaq composite index was down three points at 3,488, or 0.1 percent.
Spending by American consumers fell 0.2 percent in April, the first decline since last May. Incomes were unchanged after rising in March.
Lions Gate Entertainment rose 4 percent to $29.20 after its income and revenue beat Wall Street's forecasts.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Facebook's Mark Zuckerberg had lunch in Baton Rouge; Find out what he...
Sparks fly at town hall meeting with Congressman Garret Graves
Multiple calls to fix growing sinkhole gone unanswered
Parents stay strong after daughter left paralyzed following domestic violence shooting
INVESTIGATIVE UNIT: Classroom brawl caught on camera; Where were the teachers?