NEW YORK (AP) — Stocks are heading slightly lower in early trading after the government reported that Americans cut back on their spending last month, a discouraging sign for the economy.
The Dow Jones industrial average slipped 13 points to 15,311 shortly after the opening bell Friday, the last day of May. That's a decline of 0.1 percent. The Dow is still up 17 percent this year.
The Standard & Poor's 500 index was down less than a point at 1,654. The Nasdaq composite index was down three points at 3,488, or 0.1 percent.
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Spending by American consumers fell 0.2 percent in April, the first decline since last May. Incomes were unchanged after rising in March.
Lions Gate Entertainment rose 4 percent to $29.20 after its income and revenue beat Wall Street's forecasts.
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