Stocks Opened Slightly Higher

U.S. stocks edged up in the early trading on Friday, as investors are awaiting readings on Chicago-area business conditions and consumer sentiment. The Dow Jones Industrial Average lately fell 13.17 points, or 0.08%, to 17,066.40. The S&P 500 rose 0.52 point, or 0.03%, to 1,997.26. The Nasdaq Composite gained 4.02 points, or 0.09%, to 4,561.71.

Consumer spending in the U.S. unexpectedly dropped in July for the first time in six months, a sign households are lagging behind as wages fail to accelerate. Household purchases decreased 0.1 percent after increasing 0.4 percent in June, Commerce Department figures showed today in Washington.

Angry Birds creator Rovio Entertainment announced Chief Executive Mikael Hed will step down from that role at the beginning of next year, a move that comes several months after the entertainment company reported muted 2013 results.

McDonald’s said on Friday that a total of 12 of its branches in Russia had been temporarily closed over the state food safety regulator’s allegations of sanitary violations.

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