NEW YORK: Wall Street stocks dipped early Friday following mixed US economic data and as Nike fell after reporting a drop in quarterly sales in North America.
About 20 minutes into trading, the Dow Jones Industrial Average was at 24,750.98, down 0.1 percent.
The broad-based S&P 500 shed 0.1 percent to 2,682.93, while the tech-rich Nasdaq Composite Index lost 0.2 percent at 6,953.81.
After hitting numerous records in anticipation of passage of the massive US tax cut bill, US stocks have paused since the measure was actually approved by Congress.
A bump in orders for civilian and defense aircraft lifted US durable orders in November, but sales in other categories disappointed, according to new government data.
A separate government report showed inflation pressures remained tame despite an uptick in energy prices.
Dow member Nike lost 4.5 percent after reporting second-quarter profit fell nine percent to $767 million. The sports apparel and sneaker giant reported a drop in North American sales and cautioned that profit margins would be pressured in the upcoming quarter.
Biotech company Celgene dropped 2.9 percent after disclosing disappointing results for a trial of its revlimid treatment for follicular lymphoma.
Trading volumes were expected to be light Friday ahead of the Christmas holiday on Monday.
Source: Brecorder.com
