Last updated July 30, 2010: 12:30 PM ET --- The major U.S. equity indices opened considerably lower Friday following recent government data that indicated economic growth slowed in the second quarter, however, they rebounded from their losses on a better-than-expected report on consumer confidence and manufacturing. Disappointing quarterly results from Chevron (NYSE:CVX) and Merck (NYSE:MRK) is also weighing on investors' sentiment. A survey from Reuters and the University of Michigan indicated consumer sentiment fell in late July to 67.8 from 76 in June, but still besting economists' estimates. In addition, the government's estimate of US gross domestic product, or the value of all goods and services produced, having risen 2.4% during the second quarter, down from 3.7% previously estimated. In other corporate news, Disney (NYSE:DIS) shares are trading lower, down 0.8%, after the company announced the sale of Miramax Films for $660 million. The Dow Jones Industrial Average (DJI) is trading 0.17% lower at 10,449.45, the S&P500 (INX) is trading 0.16% lower at 1,099.77, and the Nasdaq Composite (IXIC) is trading 0.04% higher at 2,252.84.