NEW YORK (MarketWatch) -- The U.S. stock market opened lower on Wednesday as a renewed slump in oil prices again hit energy companies. Falling oil prices are beginning to result in cuts of those companies' capex spending budgets. Goodrich Petroluem Corp GDP, -9.66% shares slumped after the company said it is exploring sale of its shale asset, while its capex budget for 2015 is halved. The S&P 500 SPX, -0.34% opened 6 points, or 0.3%, lower at 2,054. The Dow Jones Industrial Average DJIA, -0.38% dropped 47 points, or 0.3%, to 17,750. The Nasdaq Composite COMP, -0.18% began the day with a loss of 6 points, or 0.1%, at 4,760.
