US STOCKS-Wall St opens lower as investors wary after hectic week
* July consumer spending picks up slightly
* Major U.S. indexes set to end the week higher
* Freeport-McMoRan jumps after Icahn discloses stake
* Indexes down: Dow 0.41 pct, S&P 0.21 pct, Nasdaq 0.03 pct (Updates to open)
By Tanya Agrawal
Aug 28 (Reuters) - Wall Street opened lower on Friday, suggesting investors were wary of taking big positions into the weekend after days of tumultuous trading that featured both the market's worst day in four years and biggest two-day gain since the financial crisis.
Even so, the three major U.S. indexes looked set to end the week higher after a brutal selloff early in the week sparked by worries about the health of the Chinese economy.
"A lot of investors are looking for markets to calm down and are rebalancing their portfolios before going into the weekend," said Jeff Carbone, co-founder and managing partner of Cornerstone Financial Partners.
Investors are taking a wait-and-see approach before making big decisions, he said. Continuación...