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Stocks open lower; S&P 500 eases from 5-year high

Monday - 1/7/2013, 11:30am  ET

NEW YORK (AP) -- Stocks are opening lower on Wall Street, pulling the S&P 500 index down from a five-year high it reached last week.

The Dow Jones industrial average fell 72 points to 13,364 shortly after the opening bell on Wall Street Monday.

The Standard & Poor's 500 index fell eight points to 1,458. The Nasdaq composite fell 15 points to 3,085.

Home improvement retailer Lowe's fell 52 cents to $35.06 after an analyst at Canaccord cut her rating on the stock to "sell" from hold, saying the company's efforts to improve sales are falling short.

Major U.S. companies begin reporting first-quarter earnings this week, beginning Tuesday with the aluminum maker Alcoa.


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