NEW YORK, June 21 (Xinhua) -- U.S. stocks opened slightly lower on Friday as investors digested a weaker Purchasing Managers' Index (PMI) this month, indicating a slowdown in business activity in the United States.
Shortly after the opening bell, the Dow Jones Industrial Average dipped 17.82 points, or 0.07 percent, to 26,735.35. The S&P 500 was down 3.11 points, or 0.11 percent, to 2,951.07. The Nasdaq Composite Index decreased 26.39 points, or 0.33 percent, to 8,024.95.
Shares of Caterpillar fell over 0.6 percent, as U.S. equity brokerage firm Atlantic Equities downgraded the U.S. manufacturing giant to "underweight" from "neutral," due to a weakening growth outlook.
Yet all of the 11 primary S&P 500 sectors traded slightly higher around early morning sessions, with the energy sector up around 2.2 percent, leading the gainers.
On the economic front, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index dropped to 50.6 in June from 50.9 in May, according to British information provider IHS Markit.
The reading marks the weakest expansion of business activity for over three years, as the country's private sector output growth has been on the decline since February, due to "less favorable domestic economic conditions" and "a tendency for greater risk aversion." Enditem
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