Stocks open modestly lower after a weeklong rally
NEW YORK (AP) — Stocks are opening moderately lower after a weeklong advance.
Deutsche Bank sank 1 percent in early trading Thursday after the company said it would post a big loss in the third quarter and possibly scrap its dividend payment.
Camera maker GoPro sank 6 percent after analysts cut their price targets for the company.
Lumber Liquidators rose 8 percent after the company agreed to pay a fine and plead guilty to five violations of environmental law to end a federal investigation into its imports of illegally sourced wood products.
The Dow Jones industrial average gave up 48 points, or 0.3 percent, to 16,864 in early trading.
The Standard & Poor’s 500 index lost seven points, or 0.4 percent, to 1,988. The Nasdaq composite fell 29 points, or 0.6 percent, to 4,762.