Wall Street slips ahead of data

Stocks opened slightly lower on Wednesday as General Motors (GM.N) inched closer to bankruptcy and investors had their sights on a key report on the housing market.

Biotechnology shares weigh down the Nasdaq.

The Dow Jones industrial average (.DJI) dropped 11.23 points, or 0.13 percent, to 8,462.26. The Standard & Poor's 500 Index (.SPX) shed 1.36 points, or 0.15 percent, to 908.97. The Nasdaq Composite Index (.IXIC) fell 9.35 points, or 0.53 percent, to 1,741.08.