Major US stock indices opened lower on Friday after data showed the world’s largest economy grew at a weaker-than-expected pace and on stubborn inflation pressures.
At 09:30 a.m., the Dow Jones Industrial Average fell 169.22 points, or 0.34%, to 49,225.94, the S&P 500 lost 23.64 points, or 0.34%, to 6,838.25, and the Nasdaq Composite lost 128.79 points, or 0.57%, to 22,553.94.
According to the government’s initial estimate released on Friday, the inflation-adjusted gross domestic product (GDP) increased an annualized 1.4% in the fourth quarter ended December 31, 2025, after rising 4.4% in the prior period.
Overall, the US economy grew at 2.2% in 2025.
“That was a bummer of a number,” said Brian Jacobsen at Annex Wealth Management, according to Bloomberg.
“Real-time indicators had our hopes high that we’d see something closer to 3%, so 1.4% is a big letdown,” Jacobsen added.
Separately, official data showed the Federal Reserve’s preferred inflation guage — the core Personal Consumption Expenditures Price Index — rose 0.4% in December, the most in nearly a year. On an annual basis, the core PCE climbed 3%.
Following the economic data release, the yield on 10-year Treasuries was little changed at 4.07%, while the US dollar wavered.
Bullion Market
Gold prices gained on Friday after US gross domestic product data came in below expectations.
By 09:04 a.m. (1404 GMT), spot gold was up 0.8% at $5,039.42 an ounce. US gold futures for April delivery added 1.3% at $5,060.10.
In other metals, spot silver rose 3.1% to $80.76 an ounce. Spot platinum surged 2.4% to $2,120.85, while palladium added 1.7% to $1,714.18.
Crude Oil
Oil prices edged down on Friday, after US President Donald Trump told Iran “bad things” will happen if it does not agree to a nuclear deal in the coming days.
Brent crude futures fell 8 cents, at $71.58 a barrel by 1442 GMT while US West Texas Intermediate crude stood at $66.44.
Over the week, both the benchmarks were up about 5.3%.
