Markets Right Now: US stocks open slightly lower – ABC News

This post was originally published on this site

The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening slightly lower, led by declines in phone stocks and energy companies.

Oil and gas stocks were falling early Wednesday along with energy prices. Chesapeake Energy slumped 3.8 percent and Hess sank 3.4 percent.

Monogram Residential Trust soared 22 percent after it agreed to be acquired for $3 billion.

Auto parts maker O’Reilly Automotive is down 10 percent after it reported weak second-quarter results.

The Standard & Poor’s 500 index was little changed at 2,429. The Dow Jones industrial average fell 28 points, or 0.1 percent, to 21,451. The Nasdaq composite rose 19 points, or 0.3 percent, to 6,129.

Two stocks fell for every one that rose on the New York Stock Exchange.