Stocks Wavered in Early Trading

U.S. stocks Opened lower and turned positive in early trade on Friday after Wall Street erased the worst of its losses over the past three sessions in the aftermath of the U.K.’s surprising vote to leave the European Union. The Dow Jones Industrial Average lately rose 25.61 points, or 0.14%, to 17,955.60. The S&P 500 was up 5.37 points, or 0.26%, to 2,104.23. The Nasdaq Composite gained 18.34bpoints, or 0.38%, to 4,861.02.

U.S. auto sales may be slowing, but they’re still expected to set a record in the first six months of this year. Sales through June were expected to be up 2 percent over last year to 8.66 million, according to Kelley Blue Book.

Fiat Chrysler Automobiles on Friday kept its improbable sales streak alive in June as sales rose 6.5% because of big gains from its Jeep and Ram and a strong contribution from its new Chrysler Pacifica minivan. In total, FCA sold 197,073 new cars and trucks in June compared with 185,035 for the same month a year ago, marking the 75th consecutive month of year-over-year sales gains.

Financial inequality became even wider in the United States last year, with average income for the top 1 percent of households surging 7.7 percent to $1.36 million. Income for the richest sliver rose twice as fast as it did for the remaining 99 percent of households, according to an updated analysis of tax data by Emmanuel Saez, an economics professor at the University of California, Berkeley.