US stock mkt. opens lower with Apple shares, oil drop

NEW YORK (AA) - The stock market opened lower Wednesday with the decline in oil prices and weak quarterly results of tech giant Apple.

The Dow Jones lost 100 points to open at 18,069. The S&P 500 was down 10 points at 2,132 and the Nasdaq began the day with a 29 point decline at 5,254.

Apple announced Tuesday that its net income and revenue fell during the July-September period of this year.

While the company's revenues have fallen for the third consecutive quarter, Apple's annual net income and revenue posted the first year-over-year decline since 2001.

With the disappointing results, Apple's stock price fell 3.9 percent to $113.61 a share when Wall Street opened Wednesday.

Oil prices were on the negative territory as well, with worries over a glut of supply in the global oil market.

At the first bell, American benchmark West Texas Intermediate was trading at $48.98 a barrel with a 1.9 percent decline. International benchmark Brent crude was at $49.71 per barrel - a 2.1 percent loss.

The oil market and investors will closely watch the change in the U.S.' weekly crude oil and gasoline inventories later Wednesday.