Markets Right Now: Stocks open mostly lower on Wall Street

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

9:35 a.m.

Stocks are opening mostly lower on Wall Street as banks and industrial companies decline, pulling the S&P 500 slightly below the record high it set a day earlier.

Technology and communications companies were bucking the trend and moving higher in early trading on Thursday.

Facebook jumped 4.6% after reporting a surge in earnings and steady growth in its user base.

Apple rose 1.6% after its earnings beat analysts' estimates, despite reporting a drop in revenue from iPhone sales.

The S&P 500 fell 2 points, or 0.1%, to 3,044.

The Dow Jones Industrial Average fell 40 points, or 0.1%, to 27,145. The Nasdaq rose 13 points, or 0.2%, to 8,319.

Bond prices rose. The yield on the 10-year Treasury fell to 1.74%.