US: Dow, S&P 500 open lower as Disney drags

THE Dow and the S&P 500 opened lower on Thursday (May 11), pressured by a drop in Disney shares after the company reported a fall in subscriber growth, while a drop in PacWest’s deposits set off another rout in the regional banking sector.

The Dow Jones Industrial Average fell 147.44 points, or 0.44 per cent, at the open to 33,383.89.

The S&P 500 opened lower by 5.40 points, or 0.13 per cent, at 4,132.24, while the Nasdaq Composite gained 14.82 points, or 0.12 per cent, to 12,321.26 at the opening bell. REUTERS