(AFP) — Wall Street stocks declined early Friday following mixed US data that highlighted strong consumer spending and elevated inflation, while Amazon sank on disappointing results.

The Commerce Department reported personal consumption expenditures climbed 1.1 percent, almost twice what analysts expected, while incomes saw a forecast-beating 0.5 percent increase, both signs of continued resilience in the economy.

But prices rose 0.9 percent, a much bigger increase than seen in March.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.5 percent at 33,764.57.

The broad-based S&P 500 dropped 0.9 percent to 4,247.37, while the tech-rich Nasdaq Composite Index shed 0.8 percent to 12,773.07.

The losses came after major indices rose more than 1.5 percent Thursday amid a deluge of corporate results.

Amazon plunged 12.6 percent after reporting its first quarterly loss since 2015 as sales growth slowed while the company faces challenges with rising costs.

Dow member Intel was also under pressure, shedding 5.9 percent following a disappointing forecast.

© Agence France-Presse