Stocks slip at close on earnings anxiety
Stocks opened slightly lower on Tuesday, Oct. 27, 2015, after several U.S. companies delivered disappointing results and forecasts. Above, trader Robert Charmak works on the floor of the New York Stock Exchange on Friday, Oct. 23. Credit: AP / Richard Drew
Stocks closed lower Tuesday after several U.S. companies delivered disappointing results and forecasts.
At the closing bell on Wall Street, the Dow Jones industrial average had slipped 41.6 points, about 0.2 percent, to 17,581.4. The Standard & Poor's 500 index fell 5.3 points, about 0.3 percent, to nearly 2,066. The Nasdaq composite fell 4.6 points, about 0.1 percent, to 5,030.2.
As markets closed, the price of U.S. benchmark crude oil was down 79 cents, about 1.8 percent, at $43.19 a barrel in trading on the New York Mercantile Exchange.
Energy stocks fell more than the rest of the market Tuesday as the price of crude oil dropped to its lowest level since August.
UPS closed down $3.08, about 3 percent, at $103.10 after the package delivery company reported revenue that fell short of analysts' estimates.
Cummins Inc. slumped $9.75, about 8.7 percent, to close at $102.35 after the engine maker's earnings results didn't match forecasts. The company also cut its revenue outlook.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
