NEW YORK, N.Y. – Stocks are opening slightly lower on Wall Street as traders return from the Memorial Day holiday in the U.S.
Time Warner Cable rose 5 per cent early Tuesday, the most in the Standard & Poor’s 500 index, after the company agreed to be acquired by Charter Communications for $55 billion. Charter rose 1 per cent.
The Dow Jones industrial average was down 95 points, or 0.5 per cent, to 18,134 as of 9:35 a.m. Eastern time.
The S&P 500 index lost nine points, or 0.5 per cent, to 2,116. The Nasdaq composite declined 19 points, or 0.4 per cent, to 5,071.
Energy stocks fell more than the rest of the market as the price of oil declined.
Benchmark U.S. crude was down $1.33 to $58.40 a barrel in New York.