US stocks slip despite Apple shock payout plan

NEW YORK: US stocks opened lower Monday despite tech giant Apple's shock announcement of a massive dividend plan and share buyback ahead of the bell.

Apple shares jumped 1.1 percent minutes into trade, but could not lift the Nasdaq or other key indices.

The Dow Jones Industrial Average was down 13.47 points (0.10 percent) to 13,219.15.

The broad-market S&P 500 slipped 1.10 points (0.08 percent) to 1,403.07.

The tech-heavy Nasdaq Composite lost 2.78 (0.09 percent) to 3,052.48.