US stock indexes open slightly lower as market comes off its latest record highs; Oil falls

NEW YORK, N.Y. – U.S. stocks are edging mostly lower in early trading as the market comes off its latest record high.

Energy stocks fell the most early Tuesday as the price of oil declined.

The Dow Jones industrial average shed 22 points, or 0.1 per cent, to 18,277 as of 9:35 a.m. Eastern time Tuesday.

The Standard & Poor’s 500 lost two points, or 0.1 per cent, to 2,126. The Nasdaq composite fell a point to 5,075.

Urban Outfitters plunged 14 per cent after reporting weaker-than-expected results and higher expenses.

Take-Two Interactive, which makes the “Grand Theft Auto” video games, surged 11 per cent after reporting earnings that were sharply higher than analysts were expecting.

Homebuilder stocks rose following a report that home construction rose in April to the fastest pace in more than seven years.