Stocks open lower, led by energy sector

NEW YORK (AP) — Stocks are opening mostly lower on Wall Street, led by declines in energy companies.

Exxon Mobil fell 3 percent early Friday, the most in the Dow Jones industrial average, after reporting its smallest quarterly profit in almost 17 years. Chevron also helped pull the Dow lower with a loss of 1.6 percent.

The price of crude oil continued its monthlong slump and was down 1 percent at $40.70 a barrel in New York.

The Dow was down 30 points, or 0.2 percent, to 18,426.

The Standard & Poor’s 500 index was down less than a point at 2,169. The Nasdaq composite gained 5 points, or 0.1 percent, to 5,160.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.49 percent.