US stocks open little changed
- Associated Press
- May 16, 2014 - 9:05 AM
NEW YORK — The stock market is little changed in early trading following sharp declines the previous day.
The Dow Jones industrial average fell less than one point to 16,444, shortly after the market opened Friday. The Standard & Poor's 500 index edged down one point, or 0.1 percent, to 1,869. The Nasdaq composite gave up seven points, or 0.2 percent, to 4,061.
Six of the 10 industry groups in the S&P 500 index fell, with energy stocks down the most.
J.C. Penney surged $1.39, or 17 percent, to $9.76. The beleaguered department store late Thursday reported first-quarter results that beat expectations as sales improved.
Abbott Laboratories rose 23 cents to $39.47 in early trading. Abbott plans to acquire fellow drugmaker CFR Pharmaceuticals for roughly $2.9 billion.
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