Weak earnings send US stocks slightly lower
NEW YORK (AP) — Stocks are mostly lower on Wall Street as investors pick over another round of corporate earnings, this time from retailers including Best Buy and Home Depot.
The Dow Jones industrial average edged down nine points, or 0.1 percent, to close at 15,966 Tuesday.
The Standard & Poor’s 500 index fell three points, or 0.2 percent, to 1,787. The Nasdaq composite lost 17 points, 0.4 percent, to 3,931.
Retailers were a key focus for investors, especially with the holiday shopping season coming up.
Best Buy slumped 11 percent, the most in the S&P 500 index, after warning that competition from online retailers was going to further squeeze its profit margins. Home Depot rose 1 percent after beating analysts’ earnings estimates.
Campbell Soup dropped 6 percent after reporting a plunge in sales.