Stocks edge lower in early trading; Mattel sinks

The Associated PressJuly 17, 2014 

Wall Street

FILE - In this Aug. 16, 2007 file photo, the flags on the facade of the New York Stock Exchange are a backdrop for a Wall Street street sign. European stocks were lower after most Asian markets abandoned modest gains Thursday July 17, 2014 ahead of U.S. economic data and corporate earnings reports.

RICHARD DREW, FILE — AP Photo

Stocks are opening slightly lower following mixed news about the economy and the latest batch of corporate earnings.

The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,978 in the first few minutes of trading Thursday.

The Dow Jones industrial average fell fifteen points, or 0.1 percent, to 17,122. The Nasdaq composite lost five points, or 0.1 percent, to 4,421.

Mattel fell 7 percent in early trading after the toy maker reported that its income plunged 61 percent in the second quarter.

In economic news, the number of people seeking unemployment benefits fell last week, but home construction fell in June to the slowest pace in nine months.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.50 percent.

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