Wall Street opens modestly lower, continuing a losing streak; S&P down 0.6%

Stocks are opening modestly lower on Wall Street Monday, continuing a losing streak that has brought the market down for six weeks in a row. The S&P 500 was down 0.6 per cent in the early going, while more declines in technology companies pulled the Nasdaq down 1.1 per cent.

The Dow Jones Industrial Average fell less, 0.3 per cent. Spirit Airlines rose 7 per cent after JetBlue would make a hostile offer for the budget carrier after Spirit rebuffed its earlier bids.

Overseas markets were mixed, as were crude oil prices. The yield on the 10-year Treasury note, which helps set mortgage rates, fell to 2.90 per cent.

Wall Street pointed toward modest declines when markets open Monday as investors continue to weigh surging energy costs and prospects for interest rate hikes in the US.

Dow futures fell 0.1 per cent and the same for the S&P 500 lost 0.3 per cent. Global shares were mixed and oil prices fell.

Last week, US benchmarks logged their sixth straight weekly drop, the longest .