Stocks Opened Lower as Tech Stocks Weighed

U.S. stocks opened slightly lower on Friday due to losses in technology stocks including Applied Materials and Alphabet. The Dow Jones Industrial Average lately gained 22.28 points, or 0.09%, to 24,736.26. The S&P 500 was down 2.69 points, or 0.10%, to 2,717.44. The Nasdaq Composite dropped 13.84 points, or 0.19%, to 7,368.63.

Oil prices rose Friday, with Brent crude trading close to the $80-a-barrel threshold, in anticipation of renewed U.S. economic sanctions on Iran. June West Texas Intermediate crude edged up by 6 cents, or 0.1%, to $71.56 a barrel. July Brent crude rose 30 cents, or 0.4%, at $79.60 a barrel.

After holding an interest in Hilton Worldwide Holdings Inc for nearly 11 years, private equity firm Blackstone Group LP has decided to exit the hotel chain operator by selling its about 5.8 percent stake. The sale of 15.8 million shares would generate about $1.32 billion, based on Hilton’s Thursday close at $83.30.