US stocks have opened lower following reports showing weak consumer spending and results for leading retailers.

Five minutes into trade, the Dow Jones Industrial Average fell 48.80 (0.29 per cent) to 16,649.94.

The broad-based S&P 500, which notched a new record on Thursday, dipped 2.69 (0.14 per cent) to 1,917.34 , while the tech-rich Nasdaq Composite Index declined 2.78 (0.07 per cent) to 4,245.17.

The Commerce Department reported that consumer spending, the largest driver of the US economy, fell by $US9.1 billion ($A9.85 billion) last month, or 0.1 per cent, following the $120.2 billion rise the previous month.

Casual clothing chain Express slumped 12 per cent after reporting an 11 per cent decline in first-quarter comparable sales and projecting annual earnings of 74-90 cents per share. Analysts had forecast profits of $US1.14 per share.

Fashion retailer Guess meanwhile fell 5.0 per cent following a net loss of $US2.1 million for the first quarter.