NEW YORK, N.Y. – Stocks are opening mostly lower as traders look over some disappointing company results.
The Dow Jones industrial average slipped 24 points, or 0.1 per cent, to 18,288 as of 9:35 a.m. Eastern time Wednesday.
The Standard & Poor’s 500 index gave up three points, or 0.2 per cent, to 2,124. The Nasdaq composite declined 13 points, or 0.3 per cent, to 5,056.
Etsy plunged 20 per cent after its first earnings report as a publicly traded company showed a hefty quarterly loss.
Staples fell 3 per cent after reporting a sharp drop in first-quarter earnings, and home improvement retailer Lowe’s sank 5 per cent after its earnings and revenue fell short of what analysts were looking for.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.25 per cent.