US stocks weaker during opening trade, still set for weekly gains of around 1%

The US stock market halted record-breaking winning streak and opened in negative territory amid thin trading conditions ahead of an extended weekend in the US. 

During opening trade, the Dow Jones Industrial Average was down over 70-points to 20,545, while the broader S&P 500 Index lost 6-points dropped to 2,340. Meanwhile, tech-heavy Nasdaq Composite Index trimmed around 10-points and is now on the brink of dropping below 5,800 mark. 

Ahead of the President Day holiday on Monday, traders would refrain from building and carrying new positions and hence, trading activity is likely to remain subdued on Friday.

A relatively empty US economic docket, featuring the only release of leading indicators for January, has also failed to provide any fresh impetus for the markets, which could end the week on a softer footing. Despite of today's pull-back, all the three major US equity indices are still set for weekly gains over 1%.