The latest on developments in financial markets (all times local):

9:35 a.m.

Stocks are opening moderately lower as Wall Street reacts to another big round of company earnings.

Gilead Sciences fell 7 percent Wednesday after its hepatitis C drug sales weakened in the first quarter, dragging down the health sector.

Apple shares jumped 3.2 percent after announcing a $100 billion stock repurchase and solid quarterly results.

Bond yields are little changed as investors expect the Federal Reserve to leave interest rates unchanged when it wraps up its latest meeting this afternoon.

The S&P 500 index slid 5 points or 0.2 percent to 2,649.

The Dow Jones industrial average was down 11 points, or 0.1 percent, at 24,083. The Nasdaq composite lost 11 points, or 0.2 percent, to 7,118.