Wall Street opens lower as reflation trade pauses
Major equity indexes in the United States started the session in the red on Friday, as the reflation trade that fueled the rise in stocks and the fall in fixed income securities loses momentum.
The Dow Jones Industrial Average index shed 0.31% at 3:45 pm CET. UnitedHealth Group lost 2.16% after the Department of Justice filed a lawsuit against the managed health care company over alleged Medicare overcharges.
The Nasdaq 100 was 0.01% in the negative territory at 3:49 pm CET. Kraft Heinz rallied 7.95% following a rejected merger proposal to Unilever, while Alexion Pharmaceuticals came out as the worst performer with a loss of 2.59%.
The S&P 500 eased 0.15% at 3:51 pm CET.
The US dollar added 0.25% against the euro to trade at 1.06473 at 3:52 pm CET, and rose 0.52% compared to the British pound, changing hands at 1.2422 at the same time. The currency advanced 0.23% against the Swiss franc, but was 0.36% off versus the Japanese yen.