Stocks Opened Lower on Trade Tensions

U.S. stocks opened modestly lower on Friday, with trade uncertainty returning to the forefront amid rising tensions between the U.S. and major allies ahead of the G-7 meeting in Canada. The Dow Jones Industrial Average lately fell 65.90 points, or 0.26%, to 25,175.51. The S&P 500 lost 5.57 points, or 0.20%, to 2,764.80. The Nasdaq Composite dropped 19.74 points, or 0.25%, to 7,615.33.

Crude-oil prices traded lower early Friday, giving up some of the ground made in a recent rally spurred by supply concerns in Venezuela and Iran. West Texas Intermediate crude for July delivery fell 33 cents, or 0.5%, at $65.61 a barrel. August Brent crude shed 61 cents, or 0.8%, at $76.71 a barrel.

Verizon Communications Inc named Chief Technology Officer and former Ericsson boss Hans Vestberg as its new Chief Executive on Friday, saying he will replace current CEO Lowell McAdam on Aug. 1.