Wall street edged down at the open on Friday after April U.S. inflation rose in line with expectations, helping investors reassess the recent volatility in the commodities market.
U.S. consumer prices gained in April on higher food and energy prices but continued to exhibit little sign of a broader pick-up in inflation that would trouble the Federal Reserve.
The Nasdaq was dragged lower by Nvidia results and a Yahoo announcement of restructuring in a subsidiary.
Commodity prices rose sharply until recently. Steep declines in the past weeks in crude oil and silver have hurt risk appetite and prompted traders to brace for further unwinding of dollar-funded bets on risk assets.
The Dow Jones industrial average <.DJI> dipped 9.96 points, or 0.08 percent, to 12,685.96. The Standard & Poor's 500 Index <.SPX> edged down 1.47 points, or 0.11 percent, to 1,347.18. The Nasdaq Composite Index <.IXIC> lost 10.01 points, or 0.35 percent, to 2,853.03.
Electronics testing equipment maker Agilent Technologies Inc
The Thomson Reuters/University of Michigan preliminary consumer sentiment index for May is due at 9:55 a.m. Economists in a Reuters survey expect a reading of 70.0 compared with 69.8 in the final April report.
(Reporting by Rodrigo Campos; Editing by Padraic Cassidy)