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Stocks slip in early trading on Wall Street as UPS, others report weaker earnings
NEW YORK (AP) ¯¯¯ Stocks are slipping at the opening of trading on Wall Street following weak earnings from U.S. companies.
The Dow Jones industrial average fell 37 points to 12,683 in early trading Tuesday. The broader Standard & Poor's 500 fell three points to 1,348. The Nasdaq composite fell four points to 2,886.
United Parcel Service cut its earnings forecast 4 percent for the year. The company cited global economic weakness and fear among its customers of a downturn later this year. UPS' stock fell more than 2 percent.
DuPont posted a 3 percent decline in net income for the second quarter on slower business in Europe and Asia. The chemical maker also reported revenue that fell short of Wall Street's expectations. Its stock fell half a percent.