NEW YORK (AP) _ Stock prices have opened lower with the Dow Jones Industrial Average down 54 points in today's early going. Losing issues on the New York Stock Exchange hold a 3-to-2 lead over gainers.

The Nasdaq Composite Index is off two points and the Standard & Poor's 500 Stock Index is down four points.

Investors are reacting to mixed signals this morning. The government says the employment cost index grew by 0.9 percent in the second quarter _ less than expected and good news for Fed inflation watchers.

But Hewlett Packard has announced plans to cut 6,000 more jobs, signaling continued trouble in high-tech.