Wall Street Poised to Break 6-Day Winning Streak

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Wall Street opened lower on Friday, pointing to a possible end of a six-day winning streak ahead of a holiday weekend.

The downcast start to the day's trading also came as investors absorbed news of an upward revision to U.S. economic growth in the first quarter.

About 10 minutes into trading, the Dow Jones Industrial Average was down a tenth of a point at 21,062.59.

The broader S&P 500 and the tech-rich Nasdaq slipped less than 0.1 percentage points to 2,412.85 and 6,201.30, respectively.

The lower open followed a six-day rally for all three major indices, with the S&P 500 and Nasdaq both setting new all-time highs.

Patrick O'Hare of Briefing.com said some investors were cashing in, putting the indices in the red for the moment.

"That negative disposition can be pinned predominately on an underlying sense that the market is due for some profit taking following an advance of 58 points," he said.

"Moves like that often invite assertions that the market is overbought on a short-term basis and due for a pullback."

Prior to the open, revised government data showed the world's largest economy grew 1.2 percent in the first quarter, much stronger than previously reported but still just half the pace of final three months of 2016.

The upward revision could solidify the expectation Federal Reserve will raise interest rates again in June, since it confirms the central bank's view that first-quarter weakness was only temporary.

Among the Dow's losers in early trading were credit card behemoth Visa, down 0.6 percent, General Electric, which gave up 0.5 percent, and investment bank Goldman Sachs, which fell 0.3 percent.

Bulk retail chain Costco saw shares jump nearly two percent on the Nasdaq after posting quarterly earnings that beat Wall Street expectations -- and showed the company has not succumbed to internet juggernaut Amazon.

Other major retailers were lower, however, including Walmart, down 0.3 percent, and Target, which fell less than 0.1 percent.