U.S. stocks opened slightly lower on Thursday, with the weakness concentrated in the technology sector after Cisco Systems reported disappointing quarterly results.
Rising bond yields also weighed on investor sentiment. The Dow Jones Industrial Average was 39 points, or 0.1%, lower to 24,733. The S&P 500 index fell 3 points, or 0.1% to 2,719. Meanwhile the Nasdaq Composite declined 21 points, or 0.3% to 7,378.
Among the worst performers on the S&P 500, Cisco Systems Inc. shares dropped about 4% after the company reported a tepid outlook.