Markets Right Now: Stocks open mostly lower on Wall Street

AP News
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Posted: Jan 05, 2017 9:40 AM

NEW YORK (AP) — The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening mostly lower on Wall Street after several retailers reported weak holiday sales and cut their profit forecasts.

Kohl's plunged 18 percent in early trading Thursday, and Macy's dropped 14 percent. Both reported weak sales during the holiday season. Macy's said it would cut 10,000 jobs.

The Dow Jones industrial average gave up 21 points, or 0.1 percent, to 19,922.

The Standard & Poor's 500 gained fell 2 points, or 0.1 percent, to 2,268. The Nasdaq composite edged up 7 points, or 0.2 percent, to 5,484.