US stock market opens lower as oil price falls

AP News
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Posted: Feb 18, 2015 9:39 AM

U.S. stocks are opening lower as energy companies fall along with crude oil prices

The Standard and Poor's 500 index fell five points, or 0.3 percent, to 2,095 as of 9:32 a.m. Eastern time Wednesday.

The Dow Jones industrial average slipped 48 points, or 0.3 percent, to 18,000. The Nasdaq eased five points, or 0.1 percent, to 4,893.

Fossil Group shares dropped 15 percent as the watch and accessories company reported fourth-quarter results and an outlook that disappointed investors.

The price of oil fell $1.20, or 2 percent, to $52.33 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.11 percent.