NEW YORK (AP) — Stocks are opening lower on Wall Street as traders found little to like in the latest batch of reports on the U.S. economy.
Handbag and luxury accessory maker Coach slumped 3 percent in early trading. TripAdvisor also fell 1.6 percent.
Protective Life Corp. jumped 18 percent on news that the company would be bought by the Japanese insurer Dai-ichi Life Insurance for $5.7 billion.
The Standard & Poor’s 500 index fell three points, or 0.1 percent, to 1,921 in early trading Wednesday.
The Dow Jones industrial average lost 31 points, or 0.2 percent, to 16,689. The Nasdaq composite fell five points, or 0.1 percent, to 4,229.
In economic news, payroll company ADP reported a pullback in hiring at private companies, and the U.S. trade deficit jumped to a two-year high.
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