US stocks open slightly lower a day after a big jump; Movado gains on strong results

NEW YORK, N.Y. – U.S. stocks are opening slightly lower following a big advance the day before.

The Dow Jones industrial average fell 70 points, or 0.4 per cent, to 17,907 as of 9:35 a.m. Eastern time Tuesday. The Dow jumped 263 points the day before.

The Standard & Poor’s 500 index lost seven points, or 0.4 per cent, to 2,078. The Nasdaq composite declined 19 points, or 0.4 per cent, to 4,928.

The price of oil fell 66 cents to $48.04 a barrel in New York.

Movado jumped 20 per cent after posting surprisingly strong fourth quarter results. Movado said it would raise prices and streamline the operations of the luxury watchmaker.

Government bond prices edged lower. The yield on the 10-year Treasury rose to 1.96 per cent from 1.95 per cent late Monday.

News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Associated Press

The Associated Press is an independent global news organization dedicated to factual reporting. Founded in 1846, AP today remains the most trusted source of fast, accurate, unbiased news in all formats and the essential provider of the technology and services vital to the news business. More than half the world’s population sees AP journalism every day.

Related Articles