Stocks open modestly lower after a weeklong rally

AP News
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Posted: Oct 08, 2015 9:44 AM
Stocks open modestly lower after a weeklong rally

NEW YORK (AP) — Stocks are opening moderately lower after a weeklong advance.

Deutsche Bank sank 1 percent in early trading Thursday after the company said it would post a big loss in the third quarter and possibly scrap its dividend payment.

Camera maker GoPro sank 6 percent after analysts cut their price targets for the company.

Lumber Liquidators rose 8 percent after the company agreed to pay a fine and plead guilty to five violations of environmental law to end a federal investigation into its imports of illegally sourced wood products.

The Dow Jones industrial average gave up 48 points, or 0.3 percent, to 16,864 in early trading.

The Standard & Poor's 500 index lost seven points, or 0.4 percent, to 1,988. The Nasdaq composite fell 29 points, or 0.6 percent, to 4,762.