Stocks open lower on Wall Street – Los Angeles Times

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U.S. stocks were down in early trading Tuesday, giving up Monday’s small gains as investors weighed quarterly earnings from several retailers and other companies. Technology stocks, banks and retailers were the biggest laggards. Energy companies fell along with the price of crude oil. Utilities companies were up slightly.

KEEPING SCORE: The Standard & Poor’s 500 index was down 15 points, or 0.6%, to 2,569 as of 10:09 a.m. Eastern Time. The Dow Jones industrial average fell 142 points, or 0.6%, to 23,296. The Nasdaq composite fell 40 points, or 0.6%, to 6,716. The Russell 2000 index of smaller-company stocks retreated 3 points, or 0.2%, to 1,471.

NOT A GOOD LOOK: TJX Cos., the parent company of T.J. Maxx and Marshalls, fell 3.2% to $68.47 after reporting revenue and earnings that missed analysts’ estimates.

FOUL OUTLOOK: Dick’s Sporting Goods slid 5.2% to $24.94 after the retailer reported a solid quarter but also said its earnings per share could drop as much as 20% next year.

TECH SLIDE: Video game publishers were trading lower amid a broad slide in technology stocks. Activision Blizzard slide 0.6% to $63.21. Electronic Arts fell 0.2% to $111.75.

TAKING FLIGHT: Buffalo Wild Wings soared 24.4% to $145.90 on a report that Roark Capital has offered to buy the restaurant chain for $150 a share, or $2.3 billion.

REVVED UP: Advance Auto Parts leaped 23.5% to $101.62 after the company’s latest quarterly earnings exceeded Wall Street’s expectations.

BONDS: Bond prices rose. The yield on the 10-year Treasury note slipped to 2.38% from Monday’s 2.41%.

OIL: Benchmark U.S. crude was down 67 cents, or 1.2%, at $56.09 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 73 cents, or 1.2%, to $62.43 a barrel in London.

The slide in oil prices weighed on energy company shares. Baker Hughes fell 3.1% to $30.89. General Electric, which owns a majority stake in the oil and gas giant, said Monday that it might distance itself from Baker Hughes as it seeks to lessen its exposure to volatile energy prices.

CURRENCIES: The dollar fell to 113.48 yen from 113.57 yen. The euro strengthened to $1.1753 from $1.1667.

MARKETS OVERSEAS: Germany’s DAX fell 0.3%, while France’s CAC 40 shed 0.6%. Britain’s FTSE 100 was little changed. Earlier in Asia, Japan’s Nikkei 225 stock index finished flat. Hong Kong’s Hang Seng index slipped 0.1%. South Korea’s Kospi edged down 0.2%. Shares in Taiwan and Southeast Asia were mostly higher. Australia’s S&P/ASX 200 fell 0.9%.


7:40 a.m.: This article was updated with market prices and context.

This article was originally published at 7 a.m.