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Stocks- Wall Street Opens Lower Amid Geopolitical Worries

Wall Street struggles for direction.

Investing.com – Wall Street dipped down on Friday on a thinly-traded day ahead of the Memorial day weekend as geopolitical concerns remained on the back of investors minds.

The S&P 500 was down nine points or 0.36% to 2,717.83 as of 9:44 AM ET (13:44 GMT) while the Dow composite decreased over 80 points or 0.32% to 24,731.35 and tech heavy NASDAQ Composite fell six points or 0.09% to 7,417.61.

On Friday North Korean leader Kim Jong Un said he was still open to talks after the White House said in a statement that it would be "inappropriate" to have a planned summit at this time. Trump and Kim Jong Un were set to meet in Singapore on June 12 to discuss possible denuclearization.

Trading is expected to be thin on Friday, as the markets close on Monday for the Memorial Day holiday.

Foot Locker (NYSE:FL) was among the top gainers after the morning bell, surging 13.28% after its earnings came in higher than expected. Walmart (NYSE:WMT) rose 0.31% while J & J Snack Foods Corp (NASDAQ:JJSF) increased 0.60% and Nike (NYSE:NKE) increased 0.26%.

Elsewhere Exxon Mobil (NYSE:XOM) fell 2.09% while PayPal Holdings Inc (NASDAQ:PYPL) slumped 0.64% and Bank of America (NYSE:BAC) was down 0.91%.

In economic news, durable goods in the U.S. fell 1.7% in April, compared to expectations of a 1.4% decrease.

In Europe stocks were mostly down. Germany’s DAX rose 24 points or 0.19% while in France the CAC 40 decreased 21 points or 0.38% and in London, the FTSE 100 was down five points or 0.06%. Meanwhile the pan-European Euro Stoxx 50 rose 24 points or 0.71% while Spain’s IBEX 35 slumped 244 points or 2.44%.

In commodities, gold futures inched down 0.05% to $1,303.70 a troy ounce while crude oil futures decreased 2.81% to $68.72 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.47% to 94.16.

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