Markets Right Now: US stocks open modestly lower

FILE- In this Oct. 26, 2016, file photo specialist Anthony Rinaldi, left, works with trader Fred DeMarco on the floor of the New York Stock Exchange.

FILE- In this Oct. 26, 2016, file photo specialist Anthony Rinaldi, left, works with trader Fred DeMarco on the floor of the New York Stock Exchange.

NEW YORK (AP) — The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening modestly lower on Wall Street as the market gives back some of its big gains from the day before.

Technology companies had some of the biggest losses early Thursday. Chipmaker Qualcomm sank 7.8 percent after giving a weak sales forecast.

Drugmaker Perrigo also fell 11.3 percent after predicting weak sales.

Monster Beverage plunged 9.6 percent after the company said Coca-Cola has developed energy drinks that would compete with its own products.

The S&P 500 index fell 5 points, or 0.2 percent to 2,808. It rose 2.1 percent a day earlier.

The Dow Jones Industrial Average was little changed at 26,174. The Nasdaq composite gave back 34 points, or 0.5 percent, to 7,534.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.21 percent.