Stocks open lower; Lions Gate, Express sink

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Associated Press

Posted on May 30, 2014 at 7:01 AM

Updated Friday, May 30 at 8:08 AM

NEW YORK (AP) — Stocks are opening slightly lower on Wall Street a day after the market closed at another record high.

Lions Gate Entertainment and Express Inc. fell sharply after reporting results that fell short of what investors were looking for. Lions Gate slumped 11 percent and Express fell 13 percent.

The Standard & Poor's 500 index fell two points, or 0.1 percent, to 1,918 in the first few minutes of trading Friday. The S&P 500 closed at a record high the day before.

The Dow Jones industrial average fell 45 points, or 0.3 percent, to 16,653. The Nasdaq composite fell four points, or 0.1 percent, to 4,243.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.49 percent from 2.47 percent late Thursday.

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