U.S. stocks opened modestly lower on Thursday after a report showed the U.S. economy grew less than expected in the first quarter and a number of companies pointed to rising costs.

The Dow Jones industrial average <.DJI> was down 12.94 points, or 0.10 percent, at 12,678.02. The Standard & Poor's 500 Index <.SPX> was down 1.95 points, or 0.14 percent, at 1,353.71. The Nasdaq Composite Index <.IXIC> was down 6.89 points, or 0.24 percent, at 2,862.99.

(Reporting by Ryan Vlastelica)