NEW YORK, N.Y. – Stocks are opening slightly lower as the market loses momentum after logging its biggest weekly gain of the year.
GameStop plunged 15 per cent early Monday after the video game retailer reported earnings and revenue that fell short of analysts forecasts. Investors have been worrying that the holiday shopping season could be weak this year.
Pfizer and Allergan fell 2 per cent each after announcing a deal to combine to form the world’s biggest drug company.
The Dow Jones industrial average slipped 19 points, or 0.1 per cent, to 17,802 in the first few minutes of trading.
The Standard & Poor’s 500 index was down a fraction at 2,089. The Nasdaq composite was little changed at 5,107.