US stocks open mostly lower; oil price slides

AP News
Posted: May 22, 2015 9:41 AM

NEW YORK (AP) — Stocks are mostly lower in early trading as energy companies decline along with the price of oil.

The Dow Jones industrial average fell nine points, or 0.1 percent, to 18,277 as of 9:35 a.m. Eastern time Friday.

The Standard & Poor's 500 index gave up a point to 2,129. The Nasdaq composite edged up five points, or 0.1 percent, to 5,097.

Deere rose 3 percent after the company raised its profit forecast for the year, saying that strong sales in construction equipment offset a global agricultural slowdown.

Campbell Soup rose 2 percent after reporting earnings that came in ahead of what analysts were looking for.

Energy stocks fell. Occidental Petroleum and Noble Corporation each fell 2 percent.

The price of oil fell $1.22, or 2 percent, to $59.48 a barrel.