Markets Right Now: Retailers lead US stocks lower

NEW YORK (AP) — The latest on developments in financial markets (All times local):

Stocks are opening mostly lower on Wall Street, led by declines in retailers after Target cut its profit and sales projections.

Target slumped 5 percent in early trading Wednesday after saying its holiday season sales were weak. Other retailers also fell. Kohl’s slumped 4 percent and Macy’s and Dollar Tree each lost 2 percent.

Energy companies were also falling along with the price of crude oil. Transocean was down 2 percent in early trading.

The Standard & Poor’s 500 index was down 1 point at 2,267.

The Dow Jones industrial average lost 60 points, or 0.3 percent, to 19,7686. The Nasdaq composite edged up 7 points, or 0.1 percent, to 5,545.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.36 percent.