Stocks Opened Lower amid Lack of Fiscal Stimulus

U.S. stocks opened lower on Thursday, as investors considered fast-dimming prospects for fiscal stimulus before the U.S. election. The Dow Jones Industrial Average lately fell 178.51 points, or 0.63%, to 28,335.49. The S&P 500 declined 25.32 points, or 0.73%, to 3,463.35. The Nasdaq Composite lost 115.96 points, or 0.99%, to 11,652.77.

U.S. states saw another 898,000 Americans file first-time unemployment insurance claims last week. Initial jobless claims, week ended Oct. 10: 898,000 vs. 825,000 expected and 845,000 during the prior week.

U.S. import prices rose in September, with prices outside petroleum products posting strong gains, suggesting a weakening dollar was lifting imported inflation. The Labor Department said on Thursday import prices increased 0.3% last month.