Wall Street opens lower as energy stocks weigh

Oil prices fell 1.9 percent due to increases in OPEC production and U.S. oil rig additions. The S&P 500 index hit a new intra-day high on Friday for the seventh time in a month, while the Nasdaq ended July with a rise of 6.6 percent. Growth in U.S. gross domestic product in the second quarter came in below expectations, fuelling speculation that the Federal Reserve may not pull the trigger on interest rates anytime soon.