NEW YORK (AP) — The latest on developments in financial markets (All times local):

9:40 a.m.

Stocks opening lower as investors continue to do modest amounts of selling after Senate Republicans proposed delaying a corporate tax cut by a year.

Health care companies stumbled Friday. Prescription drug distributor Cardinal Health fell 3 percent and medical device maker Medtronic lost 1.8 percent.

The losses are jeopardizing an eight-week winning streak for stocks.

Media companies and retailers rose. Walt Disney rose 2.3 percent and J.C. Penney soared 16 percent.

The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,578.

The Dow Jones industrial average declined 47 points, or 0.2 percent, to 23,413. The Nasdaq composite index is down 14 points, or 0.2 percent, to 6,735.

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