Stocks lower on China pessimism, earnings miss

U.S. stocks opened lower as investors increasingly discounted a US-China trade agreement and two major indices hit new heights. Dow Jones industrial average

DJIA, + 0.03%

opened 25 points, 0.1%, lower, while S&P 500

SPX, + 0.07%

dropped 3 points, or 0.1%. Nasdaq was down about 22 points, 0.3%. Shares from Cisco Systems Inc.

CSCO, -7.42% ,

a Dow component, down 6% in pre-market trading after providing guidance that hit Wall Street expectations.

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