Updated: 10:06 a.m.

Stocks opened lower Thursday as Tesla ( TSLA ) shares fell more than 5% and Costco Wholesale ( COST ) slid on signs sales growth was easing.

The Standard & Poor's 500 Index was off 0.2% to 5,958. The Nasdaq Composite Index was off 0.1% to 19436. The Dow Jones Industrial Average was off 0.4%, or 159 points, to 42,283.

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Tesla shares were off, possibly in reaction to CEO Elon Musk's criticisms of the new tax bill.

The market had little reaction to a report that President Donald Trump had had a phone call with Chinese Xi Jinping. The Chinese government reported the call, and few details were available.

Stocks set to open higher; trade gap narrows

Futures trading suggested stocks will open modestly higher. The Standard &

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