Markets Right Now: Stocks open lower on Wall Street

The latest on developments in financial markets (All times local):

9:35 a.m.

Stocks are opening lower on Wall Street, led by declines in banks and energy companies.

Banks were lower in early trading Friday as bond yields fell, which will force interest rates lower on loans such as mortgages. Citizens Financial dropped 1.7 percent.

Investors were also looking over company earnings. Hewlett Packard Enterprises slumped 8 percent after the company said it is facing "significant headwinds" that will slow its profits this year.

The Standard & Poor's 500 index lost 10 points, or 0.4 percent, to 2,354.

The Dow Jones industrial average gave back 56 points, or 0.3 percent, to 20,754. The Nasdaq composite dropped 28 points, or 0.5 percent, to 5,807.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.34 percent.



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