US stocks open lower; Deere sinks

AP News
Posted: May 14, 2014 9:48 AM
US stocks open lower; Deere sinks

NEW YORK (AP) — Stocks are opening lower, a day after the market hit all-time highs.

The Standard & Poor's 500 index fell two points, or 0.1 percent, to 1,894 in the first few minutes of trading Wednesday. The S&P 500 traded above 1,900 for the first time the day before.

The Dow Jones industrial average lost 37 points, or 0.2 percent, to 16,677. The Nasdaq composite gave up five points, or 0.2 percent, to 4,123.

Deere fell 1 after the company reported a decline in second-quarter income on lower demand for farming equipment.

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Fossil Group fell 8 percent after the watch, jewelry and accessories maker said its income fell despite sales gains across all its business segments.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.56 percent.