Banks and energy companies lead the early declines.

Stocks are opening modestly lower on Wall Street, led by declines in banks and energy companies.


Fifth Third Bancorp fell 1.2 percent and Capital One Financial also lost 1.2 percent. Chesapeake Energy fell 2.4 percent.


In earnings news, MTS Systems plunged 9 percent after reporting earnings that fell short of analysts' estimates.


The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,352.


The Dow Jones industrial average lost 24 points, or 0.1 percent, to 20,629. The Nasdaq composite gave up 14 points, or 0.3 percent, to 5,866.


Bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent.