US Markets Open Lower Amid Shutdown Risks

On Friday, major stock markets in the United States opened lower as investors digested key reports on personal consumption expenditures. The data showed a 0.4% increase in November, as reported by the US Bureau of Economic Analysis and the University of Michigan. The consumer sentiment report is set to be released later today.

Market sentiment appears to be dampened by the failure of a Trump-backed funding bill in the House of Representatives. This raises the risk of a partial government shutdown if no agreement is reached by midnight. At 9:30 am ET, the Dow Jones Industrial Average index lost 0.42% or 180 points, with Nike Inc. down by 2.26% a day after posting results. The Nasdaq 100 started the session dropping 0.77% as PDD Holdings Inc. decreased 3.02%, and the S&P 500 decreased 0.51% with PACCAR Inc. losing 3.25%. The euro traded 0.27% higher against the dollar at 9:28 am ET, selling for $1.03952.