Stocks open lower on economic unease abroad

Associated Press

NEW YORK (AP) — Stocks are opening slightly lower as investors weigh the prospects of a global economic slowdown even as several U.S. companies report strong earnings.

Companies from a wide range of sectors— Nike, Oracle, Tiffany and Discover Financial — have reported stellar earnings this week. However, the strength comes tinged with worry for these companies which rely on strong sales in Asia and Europe. Reports in China and Europe earlier in the week pointed to a likely slowdown in those economies.

The Dow Jones industrial average fell 13 points at 13,032 shortly after the opening bell Friday. The Standard & Poor's 500 index fell a point to 1,392 and the Nasdaq composite fell five to 3,058.