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US stocks mostly lower in early trading; banks and tech fall

FILE - This July 15, 2013, file photo, shows a sign for Wall Street outside the New York Stock Exchange, in New York. European stock markets are posting sizeable falls Monday, March 7, 2016, with investors seemingly anxious over what further stimulus the European Central Bank will provide at its policy meeting later in the week. A warning from the Bank for International Settlements over a "gathering storm" in the global economy further weighed on sentiment. (AP Photo/Mark Lennihan, File)
FILE - This July 15, 2013, file photo, shows a sign for Wall Street outside the New York Stock Exchange, in New York. European stock markets are posting sizeable falls Monday, March 7, 2016, with investors seemingly anxious over what further stimulus the European Central Bank will provide at its policy meeting later in the week. A warning from the Bank for International Settlements over a "gathering storm" in the global economy further weighed on sentiment. (AP Photo/Mark Lennihan, File) FILE - This July 15, 2013, file photo, shows a sign for Wall Street outside the New York Stock Exchange, in New York. European stock markets are posting sizeable falls Monday, March 7, 2016, with investors seemingly anxious over what further stimulus the European Central Bank will provide at its policy meeting later in the week. A warning from the Bank for International Settlements over a "gathering storm" in the global economy further weighed on sentiment. (AP Photo/Mark Lennihan, File)

By Associated Press 2 min read

NEW YORK (AP) – U.S. stocks are mostly lower in early trading as the market comes off a three-week winning streak. Banks and technology companies are posting some of the biggest losses. Chipmaker Micron Technology sank 5 percent. Energy companies rose along with the price of oil.

KEEPING SCORE: The Standard & Poor’s 500 index lost six points, or 0.3 percent, to 1,994 as of 10:10 a.m. Eastern time. The Nasdaq composite gave up 22 points, or 0.5 percent, to 4,695. The Dow Jones industrial average edged up nine points, or less than 0.1 percent, to 17,016.

ENERGY SURGE: The five biggest gainers in the S&P 500 were drillers and other energy-related companies. Murphy Oil rose $1.02, or 4.6 percent, to $24.72.

DUPONT JUMP: DuPont rose $1.31, or 2 percent, to $64.48. Bloomberg News reported that German chemicals giant BASF is offering to buy the company. DuPont had agreed to merge with Dow Chemical.

BANK WARNING: The Bank for International Settlements warned of a “gathering storm” as central banks run out of room to stimulate their economies. The BIS’s chief economist, Claudio Borio, said investor confidence in central banks is “faltering.” The BIS is often referred to as the central banks’ central bank.