US stocks edge lower as earnings disappoint
NEW YORK (AP) — Stocks are closing lower on Wall Street as investors react to some disappointing company earnings.
NRG Energy slumped Tuesday after its earnings fell far short of Wall Street’s estimates, and Dean Foods, a major milk distributor, dropped after cutting its profit forecast.
Major U.S. market indexes are still trading close to record levels.
The Dow Jones industrial average fell 32 points, or 0.2 percent, to close at 15,750.
The Standard & Poor’s 500 index lost four points, or 0.2 percent, to 1,767. The Nasdaq composite edged up a fraction to 3,919.
Three stocks fell for every two that rose on the New York Stock Exchange. Trading volume was slightly below average.
The yield on the 10-year Treasury note rose to 2.78 percent.