US open: Dow and S&P 500 edge lower as investors turn defensive

(Sharecast News) - Wall Street trading got off to a mixed start on Friday after major indices delivered two solid back-to-back performances as geopolitical tensions begun to ease.

As of 1515 GMT, the Dow Jones Industrial Average was down 0.56% at 49,107.01, while the S&P 500 shed 0.15% to 6,903.21 and the Nasdaq Composite came out of the gate 0.08% weaker at 23,418.32.

The Dow opened 277 points lower on Friday, almost erasing gains recorded in the previous session, while the S&P 500 was on track for its first twoweek losing streak since June.

Both the Dow Jones and S&P 500 traded lower early on Friday as investors digested a mix of corporate updates and geopolitical headlines. Broader caution followed renewed geopolitical tensions, including ongoing uncertainty around US-Europe relations and developments in Iran, which have added to market unease in recent sessions.

Gold's continued push to record highs also pointed to a defensive shift among investors.

On the macro front, a preliminary reading of S&P Global's January manufacturing purchasing managers index came to 51.90, up from 51.80 in December, while the services PMI remained unchanged at 52.50 points in January. The composite PMI increased to 52.80 points, up from 52.70 points in the prior month.

Elsewhere, the University of Michigan's consumer sentiment index was upwardly revised to 56.4 in January, up from a preliminary 54.0 and December's 52.9 - marking a second straight monthly increase and the highest reading since August, with modest gains seen across all major components of the index.

In the corporate space, Intel shares were down double digits in early trading, with the chipmaker on track for its biggest one-day loss since its 26.1% drop in August 2024. Intel's losses come after it issued soft revenue and earnings guidance for the current quarter, stating it expects first-quarter revenues to be between $11.7bn and $12.7bn, and adjusted earnings per share to be breakeven.

No major earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

3M Co. (MMM) $163.88 2.02%

Microsoft Corp. (MSFT) $457.36 1.38%

Procter & Gamble Co. (PG) $151.04 0.74%

Dow Chemical Co. (DOW) $28.53 0.72%

Chevron Corp. (CVX) $167.70 0.62%

Johnson & Johnson (JNJ) $219.65 0.53%

Salesforce.Com Inc. (CRM) $228.85 0.33%

McDonald's Corp. (MCD) $307.01 0.32%

Home Depot Inc. (HD) $382.02 0.26%

Coca-Cola Co. (KO) $72.00 0.18%

Dow Jones - Fallers

Intel Corp. (INTC) $45.76 -15.76%

Goldman Sachs Group Inc. (GS) $930.51 -2.53%

Caterpillar Inc. (CAT) $635.29 -2.02%

American Express Co. (AXP) $362.21 -1.58%

Walt Disney Co. (DIS) $111.67 -1.36%

Merck & Co. Inc. (MRK) $107.90 -1.17%

JP Morgan Chase & Co. (JPM) $300.16 -1.14%

International Business Machines Corporation (CDI) (IBM) $291.38 -1.12%

Nike Inc. (NKE) $65.08 -0.58%

Verizon Communications Inc. (VZ) $39.28 -0.51%

S&P 500 - Risers

Fortinet Inc. (FTNT) $83.14 7.11%

Nektar Therapeutics (NKTR) $38.77 6.13%

CSX Corp. (CSX) $37.28 4.19%

Advanced Micro Devices Inc. (AMD) $263.70 3.93%

Valero Energy Corp. (VLO) $193.48 3.52%

CF Industries Holdings Inc. (CF) $92.32 3.47%

HF Sinclair Corporation (DINO) $51.06 2.94%

Occidental Petroleum Corp. (OXY) $44.35 2.77%

Halliburton Co. (HAL) $34.65 2.74%

Phillips 66 Common Stock (PSX) $145.73 2.67%

S&P 500 - Fallers

Intel Corp. (INTC) $45.76 -15.76%

Capital One Financial Corp. (COF) $225.41 -4.11%

Whirlpool Corp. (WHR) $86.86 -3.12%

Broadcom Inc. (AVGO) $315.43 -3.09%

Seagate Technology Plc (STX) $336.63 -2.86%

Goldman Sachs Group Inc. (GS) $930.51 -2.53%

Becton, Dickinson & Company (BDX) $201.04 -2.43%

Incyte Corp. (INCY) $102.79 -2.17%

McCormick & Co. (MKC) $59.89 -2.14%

Illumina Inc. (ILMN) $150.73 -2.09%

Nasdaq 100 - Risers

CSX Corp. (CSX) $37.28 4.19%

Check Point Software Technologies Ltd. (CHKP) $181.35 1.79%

Nvidia Corp. (NVDA) $187.85 1.63%

Micron Technology Inc. (MU) $403.73 1.55%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $691.92 1.51%

Microsoft Corp. (MSFT) $457.36 1.38%

Meta Platforms Inc. (META) $656.00 1.29%

Adobe Systems Inc. (ADBE) $302.70 0.99%

Amazon.Com Inc. (AMZN) $236.41 0.88%

Kraft Heinz Co. (KHC) $22.91 0.81%

Nasdaq 100 - Fallers

Intel Corp. (INTC) $45.76 -15.76%

Broadcom Inc. (AVGO) $315.43 -3.09%

Seagate Technology Plc (STX) $336.63 -2.86%

Incyte Corp. (INCY) $102.79 -2.17%

Illumina Inc. (ILMN) $150.73 -2.09%

Synopsys Inc. (SNPS) $499.34 -1.99%

American Airlines Group (AAL) $14.77 -1.66%

Asml Holdings N.V. (ASML) $1,375.86 -1.37%

KLA-Tencor Corp. (KLAC) $1,480.80 -1.28%

Liberty Global plc Series C (LBTYK) $10.40 -1.23%

Nasdaq 100 - Risers

CSX Corp. (CSX) $37.28 4.19%

Check Point Software Technologies Ltd. (CHKP) $181.35 1.79%

Nvidia Corp. (NVDA) $187.85 1.63%

Micron Technology Inc. (MU) $403.73 1.55%

Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $691.92 1.51%

Microsoft Corp. (MSFT) $457.36 1.38%

Meta Platforms Inc. (META) $656.00 1.29%

Adobe Systems Inc. (ADBE) $302.70 0.99%

Amazon.Com Inc. (AMZN) $236.41 0.88%

Kraft Heinz Co. (KHC) $22.91 0.81%

Nasdaq 100 - Fallers

Intel Corp. (INTC) $45.76 -15.76%

Broadcom Inc. (AVGO) $315.43 -3.09%

Seagate Technology Plc (STX) $336.63 -2.86%

Incyte Corp. (INCY) $102.79 -2.17%

Illumina Inc. (ILMN) $150.73 -2.09%

Synopsys Inc. (SNPS) $499.34 -1.99%

American Airlines Group (AAL) $14.77 -1.66%

Asml Holdings N.V. (ASML) $1,375.86 -1.37%

KLA-Tencor Corp. (KLAC) $1,480.80 -1.28%

Liberty Global plc Series C (LBTYK) $10.40 -1.23%