US stocks edge lower as earnings disappoint

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Associated Press

Posted on November 12, 2013 at 1:02 PM

NEW YORK (AP) — Stocks are mostly lower on Wall Street as investors react to some disappointing company earnings.

Utilities stocks fell the most. NRG Energy slumped after the company cut its earnings forecast for this year and next.

Major U.S. market indexes are still trading close to record levels.

The Dow Jones industrial average was down 50 points, or 0.3 percent, to 15,732 as noon Eastern time Tuesday.

The S&P 500 index was down five points, or 0.3 percent, to 1,766. The Nasdaq composite fell eight points, or 0.2 percent, to 3,911.

Eight of the 10 industry sectors in the S&P 500 index fell.

Bond trading resumed after the Veterans Day holiday. The yield on the 10-year Treasury note rose to 2.77 percent from 2.75 percent.

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