US open: Stocks little changed as retail sales disappoint

(Sharecast News) - Major indices were little changed early on Friday, holding near record highs as both the S&P 500 and Nasdaq looked set to notch a third straight weekly gain.

As of 1515 BST, the Dow Jones Industrial Average was up 0.02% at 53,850.18, while the S&P 500 advanced 0.09% to 7,806.13 and the Nasdaq Composite came out of the gate 0.04% softer at 26,814.71.

The Dow opened 10.19 points higher on Thursday, adding to gains recorded in the prior session.

Oil prices were in focus early on Friday as traders weighed renewed US threats against Iran and the possibility of a prolonged naval blockade against signs of softer global demand. As of 1500 BST, both Brent crude and West Texas Intermediate were down 0.38% at $86.74 and $80.94 a barrel, respectively.

US Treasury Secretary Scott Bessent said Washington would apply economic measures "that have never been seen on Iran", while Defence Secretary Pete Hegseth told reporters late on Thursday that the US Navy could maintain its blockade of the Straight of Hormuz "indefinitely", rotating ships in and out as needed.

On the macro front, US retail sales fell 0.6% monthonmonth in July, according to the Census Bureau, sharply missing forecasts for a small increase and more than reversing June's 0.2% gain. July's reading marked the first decline since October 2025 and the largest drop since May last year. The weakness was broadbased, led by a 2.2% fall in nonstore retailers, a 1.8% decline at motor vehicle and parts dealers, a 0.9% drop at gasoline stations and a 0.5% decrease at electronics and appliance stores.

There were pockets of strength, with clothing and accessories stores reporting a 1.9% rise, health and personal care stores up 0.7%, and both building materials and garden supplies dealers and furniture and home furnishings stores posting 0.3% increases. The control group - which strips out food services, auto dealers, building materials and gasoline stations and feeds directly into GDP calculations - fell 0.4%, its biggest decline since early 2025.

Elsewhere, US business inventories were unchanged in June, holding at $2.74trn, according to the Census Bureau, after a revised 0.4% rise in May. Sales across manufacturers, wholesalers and retailers fell 1.1% to $2.11trn, though they remained 10% higher than a year earlier. On an annualised basis, inventories were 3% above June 2025 levels. The business inventoriestosales ratio stood at 1.30, down from 1.39 a year earlier, indicating leaner stock levels relative to sales.

Finally, consumer sentiment weakened sharply in August, according to preliminary figures from the University of Michigan, with all major measures of household confidence deteriorating on both a monthly and annual basis. The headline Index of Consumer Sentiment fell to 51.0 from 55.2 in July, leaving it more than 12% lower than a year earlier. The Current Economic Conditions gauge slipped to 51.8 from 54.8, while the Index of Consumer Expectations dropped to 50.6 from 55.4, reflecting a broad pullback in views on the economic outlook. The survey noted that overall sentiment declined about 8%, ending a twomonth run of improvement. While assessments of personal finances eased only slightly, expectations for business conditions weakened sharply, falling 11% for the year ahead and 17% over the longer term.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $105.42 2.96%

Dow Chemical Co. (DOW) $30.98 2.08%

Caterpillar Inc. (CAT) $868.04 1.84%

Chevron Corp. (CVX) $200.35 1.23%

Walt Disney Co. (DIS) $106.23 1.20%

Apple Inc. (AAPL) $305.90 1.07%

Boeing Co. (BA) $232.39 0.78%

Unitedhealth Group Inc. (UNH) $400.57 0.44%

Verizon Communications Inc. (VZ) $48.53 0.41%

JP Morgan Chase & Co. (JPM) $365.30 0.40%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $196.35 -2.13%

Amgen Inc. (AMGN) $411.26 -1.32%

Cisco Systems Inc. (CSCO) $111.80 -1.28%

Home Depot Inc. (HD) $337.67 -1.12%

Merck & Co. Inc. (MRK) $134.17 -1.00%

International Business Machines Corporation (CDI) (IBM) $235.48 -0.87%

Johnson & Johnson (JNJ) $260.55 -0.57%

Nike Inc. (NKE) $40.94 -0.56%

Microsoft Corp. (MSFT) $497.63 -0.23%

Goldman Sachs Group Inc. (GS) $1,040.04 -0.23%

S&P 500 - Risers

Seagate Technology Plc (STX) $981.82 11.43%

Western Digital Corp. (WDC) $508.00 10.14%

Micron Technology Inc. (MU) $972.24 5.34%

Copart Inc. (CPRT) $30.46 4.83%

Bath & Body Works, Inc. (BBWI) $19.64 4.78%

Lam Research Corp. (LRCX) $336.78 4.48%

Corning Inc. (GLW) $165.46 4.30%

Align Technology Inc. (ALGN) $179.75 3.74%

NRG Energy Inc. (NRG) $124.13 3.71%

LKQ Corporation (LKQ) $25.45 3.65%

S&P 500 - Fallers

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Applied Materials Inc. (AMAT) $513.66 -6.68%

Broadcom Inc. (AVGO) $401.80 -5.35%

Vertex Pharmaceuticals Inc. (VRTX) $503.02 -4.02%

Nektar Therapeutics (NKTR) $74.36 -3.61%

Dxc Technology Company (DXC) $10.78 -3.57%

Ipg Photonics Corp. (IPGP) $84.67 -3.34%

Eli Lilly and Company (LLY) $1,176.46 -2.72%

Willis Towers Watson Public Limited Company (WTW) $332.05 -2.55%

Accenture Plc (ACN) $174.61 -2.40%

Nasdaq 100 - Risers

Workday, Inc. (WDAY) $196.57 14.19%

Seagate Technology Plc (STX) $981.82 11.78%

Western Digital Corp. (WDC) $508.00 8.86%

Tesla Inc (TSLA) $349.74 6.15%

Micron Technology Inc. (MU) $972.24 5.34%

Lam Research Corp. (LRCX) $336.78 4.48%

Align Technology Inc. (ALGN) $179.75 3.74%

Expedia Group Inc. (EXPE) $328.99 3.50%

DENTSPLY Sirona Inc. (XRAY) $11.74 3.03%

Intel Corp. (INTC) $105.42 2.96%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Applied Materials Inc. (AMAT) $513.66 -6.95%

Broadcom Inc. (AVGO) $401.80 -5.35%

JD.com, Inc. (JD) $28.82 -4.55%

Vertex Pharmaceuticals Inc. (VRTX) $503.02 -4.02%

Biomarin Pharmaceutical Inc. (BMRN) $67.43 -2.25%

Incyte Corp. (INCY) $117.74 -1.61%

Fastenal Co. (FAST) $50.76 -1.54%

Cintas Corp. (CTAS) $199.52 -1.47%

Microchip Technology Inc. (MCHP) $78.10 -1.46%