BUSINESS US Stocks open slightly lower as banks slide

BUSINESS

US Stocks open slightly lower as banks slide

AP

22:56, January 17, 2019

US stocks are opening slightly lower as banks fell after a series of disappointing quarter reports.

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Traders work on the floor at the closing bell of the Dow Industrial Average at the New York Stock Exchange (Photo: AFP)

Investment bank Morgan Stanley dropped 4.2 percent Tuesday after its revenue fell short of analyst expectations.

Railroad operator CSX fell 2.3 percent Tuesday after it forecast slower revenue growth in 2019.

High-dividend stocks including utilities and real estate companies made small gains.

The S&P 500 index gave up 4 points, or 0.2 percent, to 2,611.

The Dow Jones Industrial Average fell 55 points, or 0.2 percent, to 24,152. The Nasdaq composite slid 22 points, or 0.3 percent, to 7,012.

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