U.S. stocks open modestly lower, major indexes coming off records

U.S. stocks opened slightly lower on Wednesday, as investors found few catalysts to keep pushing shares higher with major indexes near record levels. The Dow Jones Industrial Average fell 14 points, or 0.1%, to 22,099. The S&P 500 slipped 3 points to 2,493, a decline of 0.1%. The Nasdaq Composite Index was off 15 points, or 0.2%, to 6,439. Major indexes have been in an uptrend this week, with both the S&P and the Nasdaq coming off two-day rallies, while the Dow has risen for three straight sessions. Those gains took equities to record levels, leading to some mild profit taking. Among specific names, Apple Inc. dipped 1% a day after it unveiled its new product lineup, including a flagship iPhone X that won’t be delivered until November. Nordstrom Inc. surged 5.4% a day after a report the retailer was taking steps to go private.

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Source: Market News

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