Stocks fall after dim jobs, growth reports

Stocks are opening lower a day after their first gain this week, following disappointing U.S. economic reports that showed a weak jobs market and sluggish overall economic growth.

The Labor Department says more people applied for unemployment benefits last week, the first increase in three weeks. Analysts expected a decrease.

The Commerce Department says the economy grew at a 1.8 percent annual rate in the January-March quarter as gasoline prices surged and government spending declined. Consumer spending grew at just half of the rate of the previous quarter.

Shortly after the opening bell, Dow Jones Industrial Average is down 28 points, or 0.2 percent, at 12,367. The Standard & Poor’s 500 is down 3, or 0.2 percent, at 1,318. The Nasdaq composite is down 4, or 0.2 percent, at 2,757.