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Markets Right Now: Stocks open slightly lower as banks slide

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

9:35 a.m.

U.S. stocks are opening slightly lower as banks fell after a series of disappointing quarter reports.

Investment bank Morgan Stanley dropped 4.2 per cent Tuesday after its revenue fell short of analyst expectations.

Railroad operator CSX fell 2.3 per cent Tuesday after it forecast slower revenue growth in 2019.

High-dividend stocks including utilities and real estate companies made small gains.

The top U.S. and Chinese trade envoys will hold talks later this month in a possible sign of progress toward resolving their dispute.

The S&P 500 index gave up 4 points, or 0.2 per cent, to 2,611.

The Dow Jones Industrial Average fell 55 points, or 0.2 per cent, to 24,152. The Nasdaq composite slid 22 points, or 0.3 per cent, to 7,012.

The Associated Press