US stock market opens lower
The U.S. stock market is edging lower in early trading after a modest recovery the day before.
The Dow Jones industrial average fell seven points, or 0.1 percent, to 15,438 shortly after the market opened Wednesday. The Standard & Poor’s 500 index was down four points, or 0.2 percent, to 1,751. The Nasdaq slipped 14 points, or 0.3 percent, to 4,017.
A private survey on Wednesday showed that U.S. businesses added jobs at a steady but modest pace in January, a sign that hiring has rebounded after a disappointing December. Investors are also looking toward Friday’s U.S. government report on job growth for January.
Time Warner’s quarterly net income dropped 12 percent as investments in programing and other costs offset revenue growth. Its stock fell 2 percent in early trading.