Stocks open mixed after Dow notches a record high
NEW YORK (AP) — The stock market opened flat, a day after the Dow Jones industrial average closed above 16,000 for the first time.
Bad news from a discount retail chain weighed on the market early Friday.
The Standard & Poor’s 500 index slipped less than a point to 1,795. The Dow fell 33 points, or 0.2 percent, to 15,976. The Nasdaq rose six points, or 0.2 percent, to 3,975.
Discount retailer Ross Group fell the most in the S&P 500 index. It dropped $6.36, or 8 percent, to $73.90 after warning of tough competition and discounting this holiday season.
Time Warner Cable surged $7.85, or 7 percent, to $128.71 after the Wall Street Journal reported that Charter Communications was nearing an agreement with banks to borrow money to bid for the cable provider.