Stocks open lower, market headed for a weekly loss

May 24, 2013 @ 6:48 am


FILE - In this Thursday, May 23, 2013, file photo, Trader Donato Cuttone works on the floor of the New York Stock Exchange near the close of trading. Asian shares traded erratically Friday May 24, 2013 but European markets found their footing, a day after global stocks were routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. (AP Photo/Richard Drew, File) | Zoom

NEW YORK (AP) - Stocks are opening lower on Wall Street, putting the market on track for its first weekly loss after four weeks of gains.

The Dow Jones industrial average was down 42 points at 15,251 shortly after the opening bell Friday, a loss of 0.3 percent.

The Standard & Poor's 500 index was down seven points at 1,642, or 0.5 percent. The Nasdaq composite fell 16 points to 3,443, or 0.5 percent.

The market is headed for its first weekly loss in five weeks. The S&P is still up 15 percent so far this year.

Sears posted a big loss late Thursday. Its stock plunged 17 percent, or $10, to $48.28.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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