Stocks open slightly lower on Wall Street

AP News
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Posted: Feb 23, 2016 9:42 AM
Stocks open slightly lower on Wall Street

NEW YORK (AP) — Stocks are opening slightly lower on Wall Street as the market gives back some of a big gain from the day before.

Materials and energy stocks were especially weak in early trading Tuesday as commodities prices moved lower.

Fitbit sank 15 percent after releasing a weak forecast, and J.M. Smucker fell 2 percent after reporting sales that fell short of analysts' forecasts.

The Dow Jones industrial average slipped 63 points, or 0.4 percent, to 16,554 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index fell 10 points, or 0.5 percent, to 1,936. The Nasdaq composite gave up 21 points, or 0.5 percent, to 4,548.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.80 percent.