U.S. stocks open lower as investors continue to digest company earnings

U.S. stocks opened lower Wednesday as investors weigh another batch of company earnings. The Dow Jones Industrial Average
DJIA,
-0.37%
was down 0.4% soon after the opening bell, while the S&P 500
SPX,
-0.44%
fell 0.5% and the Nasdaq Composite
COMP,
-0.65%
dropped 0.7%, according to FactSet data, at last check. On Wednesday, Morgan Stanley
MS,
-1.27%
reported first-quarter earnings that beat estimates, while Ally Financial Inc.
ALLY,
+0.94%
missed its first-quarter adjusted earnings target.