NEW YORK (AP) — Stocks are opening slightly lower as investors balance spiking bond yields in Spain with signs of growth in the U.S. economy.
An auction of 10-year bonds in Spain left the country paying interest rates of nearly 7 percent. That is the highest rate since 1997 and a level that economists see as unsustainable.
In the U.S., applications for unemployment benefits fell last week to their lowest level in 7 months. Building permits jumped more than economists expected.
The Dow Jones industrial average was down 10 points, or 0.1 percent, to 11,893 five minutes after the market opened Thursday. The S&P 500 fell 2, or 0.2 percent, to 1,234. The Nasdaq composite lost 4, or 0.2 percent, to 2,634.