Markets Right Now: Stocks opening lower on Wall Street

NEW YORK (AP) — The latest on developments in global financial markets (all times local):

9:45 a.m.

U.S. stocks are opening slightly lower Wednesday with phone companies and utilities continuing to take the biggest losses.

Retailers traded on earnings reports. Target is down 7 percent and Lowe’s is down 6 percent after each company cut its profit outlook. Urban Outfitters jumped 16 percent on solid sales.

The Federal Reserve will release the minutes from its latest meeting Wednesday afternoon.

The Dow Jones industrial average fell 57 points, or 0.3 percent, to 18,495. The Standard & Poor’s 500 dropped 5 points, or 0.3 percent, to 2,173. The Nasdaq composite slid 12 points, or 0.2 percent, to 5,215.

Bond prices are rising and the yield on the 10-year Treasury fell to 1.57 percent. Oil slid 45 cents to $46.12 a barrel in New York. Gold, silver and copper also fell.

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