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US: Stocks fall on durable goods report, earnings

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[NEW YORK] US stocks opened lower Tuesday following data showing another fall in durable goods orders and mixed earnings that underscored worries about declining revenue at many companies.

Five minutes into trade, the Dow Jones Industrial Average was at 17,558.74, down 64.31 points (0.36 percent).

The broad-based S&P 500 fell 8.44 (0.41 percent) to 2,062.74, while the tech-rich Nasdaq Composite Index dropped 13.20 (0.26 percent) to 5,021.51.

New US durable goods orders fell for a second straight month in September, by 1.2 percent, the Commerce Department said. The drop highlighted persistent sluggishness in the manufacturing sector.

Dow members DuPont and Pfizer and delivery giant UPS were among the companies reporting lower sales, a trend that analysts say also is indicative of slow growth.

AFP

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