US stock index open lower as traders return from holiday

Staff Writer
Columbus CEO

NEW YORK (AP) — Stocks are opening slightly lower on Wall Street as traders return from the Memorial Day holiday in the U.S.

Time Warner Cable rose 5 percent early Tuesday, the most in the Standard & Poor's 500 index, after the company agreed to be acquired by Charter Communications for $55 billion. Charter rose 1 percent.

The Dow Jones industrial average was down 95 points, or 0.5 percent, to 18,134 as of 9:35 a.m. Eastern time.

The S&P 500 index lost nine points, or 0.5 percent, to 2,116. The Nasdaq composite declined 19 points, or 0.4 percent, to 5,071.

Energy stocks fell more than the rest of the market as the price of oil declined.

Benchmark U.S. crude was down $1.33 to $58.40 a barrel in New York.