clear
Saturday July 30th, 2016 5:17AM

Stocks open lower on weak corporate earnings

By The Associated Press
NEW YORK (AP) -- Weak earnings from IBM and other major U.S. companies are dragging the stock market lower in early trading.

Interest rates on short-term U.S. government debt declined as investors were relieved that Washington averted a potential default.

IBM, UnitedHealth and Goldman Sachs dragged the Dow Jones industrial average lower after reporting results that disappointed investors.

The Dow was down 100 points, or 0.7 percent, to 15,272 points early Thursday.

The broader Standard & Poor's 500 fell but not as much as the Dow. The S&P 500 lost three points, or 0.2 percent, to 1,717 points.

The Nasdaq fell seven points, also 0.2 percent, to 3,832.

The yield on the three-month Treasury bill fell back to 0.1 percent, about where it was in late September, down sharply from 0.13 percent late Wednesday.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.