U.S. Stocks Open Lower on Friday; AMC Drops 4% While APE Soars 40%

Stocks were lower on Friday as traders struggled to recover some of the ground lost in the previous session.

The Dow Jones Industrial Average fell 40 points, or 0.01%. S&P 500 and Nasdaq Composite lost 0.1% and 0.3%, respectively.

Futures oscillated in the morning after the core personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, came in slightly hotter than economists expected on a year-over-year basis, indicating that inflation is sticking despite the Fed's efforts to fight it.

AMC shares continued to dropped 4% while APE soared 40% in morning trading as AMC Entertainment announced $110 million equity capital raise, a $100 million debt for equity exchange, and a proposed vote to convert AMC Preferred Equity (“APE”) units into AMC common shares and implement a reverse stock split.